Romania’s First Bank and its parent company, US investment firm J C Flowers, have entered into a US$862,318 settlement with the US treasury department’s Office of Foreign Assets Control (OFAC) for apparent violations of the Iran and Syria sanctions programmes…. Read More ›

Syria
UBAF settles for nearly US$8.6 million for “reckless disregard” of Syria sanctions in internal transfers and L/C transactions
Union des Banques Arabes et Francaises (UBAF) of France has reached a settlement with the US treasury department’s Office of Foreign Assets Control (OFAC) in which the bank has agreed to remit US$8,572,500 to settle its potential civil liability for… Read More ›