Interactive Brokers to Pay $11.8 Million in US Sanctions Settlement over Compliance Failures

OFAC Fines Investment Broker Millions for Alleged Sanctions Violations Involving Russia, China, Others

The Office of Foreign Assets Control fined a Connecticut-based online investment broker $11,832,136 to settle alleged violations of multiple U.S. sanctions programs, saying the company illegally provided services to sanctioned people and restricted countries, and it processed trades in securities...

Elite Russian university launches degree program on sanctions evasion

The Higher School of Economics (HSE), a leading Russian institution, said the two-year course will focus on international corporate compliance and business ethics, and will be taught in both Russian and English.

Interactive brokers to pay $11.8 million in US sanctions settlement over compliance failures

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has announced an $11.8 million settlement with Interactive Brokers LLC (IBKR), one of the world’s largest electronic trading platforms. The penalty stems from multiple apparent violations of US sanctions laws, which saw the firm processing financial transactions and offering services to individuals and entities in sanctioned regions and sectors over a multi-year period. The enf…

Harman settles for $1.45m over US Iran sanctions evasion

The company reached a settlement with the US treasury department after voluntarily disclosing the diversion of products from UAE to Iran, between 2018 and 2020, and improving compliance. The post Harman settles for $1.45m over US Iran sanctions evasion appeared first on AV Magazine.