While I was at ACAMS: 3-for-1 OFAC settlements with UniCredit Germany,...
Settlement Agreements between the U.S. Department of the Treasury’s Office of Foreign Assets Control and UniCredit Group Banks 4/15/2019 The U.S. Department of the Treasury’s Office of Foreign Assets...
View ArticleApril 24, 2019: Changes to Cuba Restricted List
Department of State Updates the Cuba Restricted List Media Note Office of the Spokesperson Washington, DC April 24, 2019 The Department of State has updated the Cuba Restricted List with five...
View ArticleCanada publishes its response to LIBERTAD Act Title III no longer being waived
Statement from Government of Canada for Canadians doing business in Cuba May 3, 2019 – Ottawa, Ontario – Global Affairs Canada and Department of Justice Canada The Honourable Chrystia Freeland,...
View ArticleJune 4, 2019: New CACR takes away group people to people travel, cruises to Cuba
On Tuesday, OFAC issued amended Cuban Asset Control Regulations (CACR), which ends group people-to-people travel. And BIS (part of the Commerce Department) amended the Export Administration Regulations...
View ArticleTreasury Department Cuba Sanctions Changes Fact Sheet
Press Release: June 4, 2019 Contact: Treasury Public Affairs, (202) 622-2960 Treasury and Commerce Implement Changes to Cuba Sanctions Rules WASHINGTON – Today, the Department of the Treasury’s Office...
View ArticleState Department Cuba Press Guidance
United States Restricts Travel and Vessels to Cuba MEDIA NOTE OFFICE OF THE SPOKESPERSON / JUNE 4, 2019 WASHINGTON, DC Share Today, the United States took strong action to prevent U.S. travel to...
View Article3 for 1: OFAC announces 3 Cuba-related enforcement actions
Settlement Agreements between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Expedia Group, Inc.; Hotelbeds USA, Inc.; and Cubasphere, Inc. and an Individual 6/13/2019 The...
View ArticleThe rules for Cuba-related CMPs are different.
From the Cubasphere settlement: The Cuba Penalty Schedule, 68 Fed. Reg. 4429 (Jan. 29, 2003), sets a $2,000 penalty for the provision of travel services occurring “prior to agency notice,” plus $500...
View ArticleOFAC Enforcement Action: Expedia Group
Expedia Group, Inc. (“Expedia”) Settles Potential Civil Liability for Apparent Violations of the Cuban Assets Control Regulations: Expedia Group Inc., headquartered in Bellevue, Washington, on behalf...
View ArticleOFAC Enforcement Action: Hotelbeds USA
Hotelbeds USA, Inc. Settles Potential Civil Liability for Apparent Violations of the Cuba Assets Control Regulations, 31 C.F.R. part 515: Hotelbeds USA, Inc. (“Hotelbeds USA”), incorporated in Florida,...
View ArticleOFAC Enforcement Action: Cubasphere Inc (and an individual)
An Individual and Cubasphere Inc. Settle Potential Civil Liability for Apparent Violations of the Cuban Assets Control Regulations: An individual (the “Individual”), as well as Cubasphere Inc....
View ArticleSeptember 6, 2019: OFAC updates Cuban regulations, FAQs
Publication of Updated Cuban Assets Control Regulations (CACR) and Frequently Asked Questions 9/6/2019 The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is amending the Cuban...
View ArticleSeptember 26, 2019: Raul Castro designated under Section 7031(c)
Public Designation of Raul Castro, Due to Involvement in Gross Violations of Human Rights PRESS STATEMENT MICHAEL R. POMPEO, SECRETARY OF STATE SEPTEMBER 26, 2019 Share The Department is publicly...
View ArticleOFAC Enforcement Action: General Electric
For a period of over 3 years, GE appears to have violated the Cuban Assets Control Regulations (CACR) 289 times, resulting in a settlement of $2,718,581, as opposed to a base penalty of $3,377,119 and...
View ArticleOctober 25, 2019: Sanctions are not just financial…
United States Restricts Scheduled Air Service to Cuban Airports MEDIA NOTE OFFICE OF THE SPOKESPERSON OCTOBER 25, 2019 Share At the request of the Secretary of State, the U.S. Department of...
View ArticleNovember 15, 2019: 5 new entities added to Cuba Restricted List
State Department Updates the Cuba Restricted List PRESS STATEMENT MICHAEL R. POMPEO, SECRETARY OF STATE NOVEMBER 15, 2019 Share Today, I am announcing an update to the Cuba Restricted List to add five...
View ArticleDecember 19, 2019: One leaves Cuba sanctions, plus a bunch of narcotics...
On Thursday, OFAC added the following persons: CRUZ OVALLE, Juan Carlos (a.k.a. “EL HIELERO”), 5 Calle, 1-35, Zona 1, Tecun Uman, Ayutla, San Marcos, Guatemala; DOB 11 Sep 1975; alt. DOB 06 Nov 1975;...
View ArticleOFAC Enforcement Action: ACE Limited/Chubb Limited
Simply put, Chubb Corporation merged with ACE Limited, and one of ACE’s subsidiaries was subject to US jurisdiction (because one of its parents was incorporated in the US). And that subsidiary...
View ArticleOFAC Enforcement Action: Allianz Global Risks US Insurance Company
Allianz agreed to pay $170,535 for 6474 voluntarily self-disclosed, non-egregious apparent violations of the Cuban Asset Control Regulations (CACR), reduced from a base penalty of $270,690.90. Here is...
View ArticleYou can’t get there from here (as often or as easily)…
United States Further Restricts Air Travel to Cuba PRESS STATEMENT MICHAEL R. POMPEO, SECRETARY OF STATE JANUARY 10, 2020 Share Today, at my request, the U.S. Department of Transportation (DOT)...
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