Sanctions in International Jurisdictions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has imposed record-breaking penalties on major banks for violating the Bank Secrecy Act (BSA) and the Office of Foreign Assets Control (OFAC) sanctions. These penalties underscore the use of U.S. and international financial systems to launder illicit gains through shell companies, offshore financial centers, and service providers. Examine these international guides by Lexology Panoramic which address essential aspects of economic and trade sanctions.

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• Bank Secrecy Act, USA PATRIOT Act, AMLA, OFAC, and other Anti-money Laundering / Anti-terrorism Regulations
  Explore this practice note for an overview of key anti-money laundering (AML) laws and regulations that banking and non-banking financial institutions must comply with, as well as anti-terrorism activities and measures that an institution must undertake when such activities are suspected.

• OFAC Regulations Fundamentals
  Review this content for a comprehensive discussion of U.S. sanctions implemented by OFAC, including applicability, targeted parties, prohibited actions, and penalties.

• OFAC Violation Responses
  Understand the considerations and approach when responding to a violation of U.S. sanctions laws.

• OFAC Sanctions Compliance Policy
  Utilize this template when an institution needs to inform personnel of its expectations for ensuring OFAC compliance. This template includes guidance and drafting notes.

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