ofac

Bittrex OFAC Violations: Hindsight is 20/20

by stacy-admin
October 14, 2022October 15, 2022

Crypto exchange Bittrex settles for $24 million for OFAC violations, a stand out among OFAC settlements for various reasons.

OFAC Sanctioned Crypto Mixer for Laundering Stolen Crypto

by stacy-admin
August 18, 2022August 23, 2022

The US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned crypto mixer, Tornado Cash, adding 38 Ethereum wallet addresses to the Specially Designated Nationals (SDN List). Crypto mixers are programs that mix various cryptocurrencies in private pools before transferring it to designated receivers. OFAC found… Read More »OFAC Sanctioned Crypto Mixer for Laundering Stolen Crypto

OFAC Daily Screenings: Are Your Vendors Performing?

by jeff-admin
August 12, 2022September 14, 2022

OFAC consistently states there’s no “one size fits all” approach to screening accounts and transactions for potential sanctions violations. However, the Finding of Violation (FOV) recently issued to MidFirst Bank calls that position into question. OFAC issued the FOV because MidFirst maintained and processed 34… Read More »OFAC Daily Screenings: Are Your Vendors Performing?

OFAC Fines AMEX Bank for Sanction Violations

by firoz_rambee
July 22, 2022September 24, 2022

AmEx Bank agreed to a $430,500 settlement regarding OFAC violations under the Kingpin Act.

Bank Fined for Sanctions Violations

by firoz_rambee
June 5, 2022September 24, 2022

OFAC fined Banco Popular de Puerto Rico for failing to detect and prevent transactions with two low-level Venezuelan government employees.

DOJ Files Complaint Against US Citizen Transmitting Crypto to Sanctioned Country

by firoz_rambee
May 21, 2022September 24, 2022

US citizen accused of setting up payments platform to operate in an OFAC-sanctioned country.

OFAC Sanctions Russian Darknet & Crypto Exchange

by firoz_rambee
April 15, 2022July 14, 2022

Highlighting the U.S. Department of the Treasury’s continued focus on cybercrime and digital assets, OFAC sanctioned the world’s largest and most prominent darknet market, Hydra Market (Hydra), along with Garantex, a cryptocurrency exchange that executed over $100 million in cryptocurrency transactions associated with darknets, including $2.6 million… Read More »OFAC Sanctions Russian Darknet & Crypto Exchange

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