4 Steps Toward OFAC Sanctions Compliance

Law360, New York (August 12, 2011, 10:53 AM EDT) -- Your company may not be interested in the Office of Foreign Assets Control (OFAC), but recent statistics show that OFAC is increasingly interested in your company. Over the last several years, the number and monetary value of enforcement activities by OFAC have risen dramatically. In 2007, OFAC collected a total of $3.5 million in civil penalties and settlements. In 2009 and 2010, that cumulative number jumped to just under $1 billion.

Criminal enforcement actions are on the rise as well. The unfortunate reality is that OFAC...
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