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Results: 1-10 of 683

PayPal’s settlement with OFAC demonstrates importance of effective sanctions compliance programs for financial institutions

  • Bradley Arant Boult Cummings LLP
  • -
  • USA
  • -
  • April 13 2015

On March 25, 2015, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced asettlement with PayPal, Inc., the money

The risk and treatment of revolving trade

  • King & Wood Mallesons
  • -
  • China
  • -
  • April 10 2015

Over the past few years, revolving trade crises have frequently occurred in China, such as the steel trade crisis in 2011 in Southern China and the

PayPal settles OFAC investigation for $7.65 million

  • Steptoe & Johnson LLP
  • -
  • USA
  • -
  • April 4 2015

PayPal has agreed to pay $7.65 million to settle claims by the Treasury Department's Office of Foreign Asset Control that it processed transactions

Compliance takeaways from PayPal's OFAC settlement

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • April 3 2015

On March 25, 2015, the Department of Treasury's Office of Foreign Assets Controlannounced that PayPal Inc. agreed to pay $7.7 million to settle 486

Financial Regulatory Developments 2 April - HM Treasury (Treasury)

  • Dentons
  • -
  • United Kingdom
  • -
  • April 2 2015

Treasury has issued a Memorandum of Understanding (MOU) between BoE, FCA, PSR and PRA as required by the Banking Reform Act. The MoU describes the

Export control and sanctions enforcement - 4215

  • Akin Gump Strauss Hauer & Feld LLP
  • -
  • USA
  • -
  • April 2 2015

German bank Commerzbank AG and its U.S. branch, Commerzbank AG New York Branch, (collectively, Commerzbank) agreed earlier this month to a US$1.45

The broader problem: European bank creates an easy catch for the long arm of U.S. jurisdiction

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • April 1 2015

On March 12, 2015, Commerzbank AG, Germany’s second largest bank and a global financial institution, agreed to pay $1.45 Billion (yes, with a “B”) in

Commerzbank, Schlumberger settlements mark acceleration of sanctions-related enforcement activities

  • Paul Hastings LLP
  • -
  • USA
  • -
  • March 31 2015

It has been a busy March for officials charged with enforcing U.S. sanctions, anti-money laundering, and export controls laws. In rapid succession

PayPal has no pals at OFAC

  • Bryan Cave LLP
  • -
  • USA
  • -
  • March 27 2015

Internet payment facilitator PayPal recently agreed to pay to the Office of Foreign Assets Control $7,658,300 in fines and penalties to settle

Paypal settlement highlights OFAC risks for money services businesses

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • March 27 2015

On March 25, 2015, the Office of Foreign Assets Control ("OFAC") of the U.S. Treasury Department announced a settlement with PayPal, Inc