The US Treasury Department’s Office of Foreign Assets Control (OFAC) has agreed on a settlement with Switzerland-based global private banking group, EFG International AG.
EFG has agreed to pay $3,740,442 to settle its potential civil liability for processing 873 securities transactions in apparent violation of the Cuban Asset Control Regulations, the Kingpin Act, and Executive Order 14024.
According to the OFAC, EFG subsidiaries in several countries...
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