Non-U.S. Companies Fined for OFAC Violations
Insight Jill M. Williamson · August 03, 2017
Having historically targeted banks, OFAC shows interest in penalizing banks’ customers that send illegal payments through the U.S. financial system.
OFAC's action is significant because it appears to be the first time the entity penalizes a non-U.S., non-financial company for “causing” sanctions violations by initiating U.S. dollar payments involving a sanctioned country.
Ms. Williamson has over 15 years of experience both in-house and in private practice, she focuses on compliance and white collar issues facing multi-national companies. Jill has represented companies and individuals in investigations before the Department of Treasury, Securities and Exchange Commission, and Department of Commerce. She has led internal and government investigations around the globe. As Deputy Chief Compliance Officer at Cigna Corporation and Chief Compliance Officer at Liquidity Services, she built and managed global compliance programs.