Penalties by Foreign Assets Control

According to BankersAccuity, the United States Treasury’s Office of Foreign Assets Control handed out 16 penalties in 2012. The office is charged with enforcing economic and trade sanctions.

In the first 5 months of 2013, the office has already issued 11 penalties. 9 of the penalties issued in 2013 involved firms violating sanctions placed on Iran.

Source:  Sanat Vallikappen, “U.S. Money Laundering Fines Seen Rising in 2013 With Iran Focus,” Bloomberg BusinessWeek, June 12, 2013.

(More examples of money laundering cases.)