OFAC Adjusts Penalties for Inflation
The Office of Foreign Assets Control is adjusting its civil monetary penalties for inflation, the agency said in a notice. The new amounts include higher maximum penalties for violations of the Trading With the Enemy Act, the International Emergency Economic…
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Powers Act, the Antiterrorism and Effective Death Penalty Act, the Foreign Narcotics Kingpin Designation Act and the Clean Diamond Trade Act. The agency also updated two references to “one-half the IEEPA maximum CMP from $165,474 to $178,290” and adjusted the record-keeping CMPs in OFAC’s Economic Sanctions Enforcement Guidelines. The changes take effect Jan. 13.