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#1861244 - 10/13/13 08:07 PM Wells Fargo Fined By OFAC
Retread Offline
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Retread
Joined: Oct 2003
Posts: 2,548
Southeast
This is interesting. OFAC says Wells Fargo did not do enough.


OFAC Fines Wells Fargo


Penalty
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#1861251 - 10/14/13 12:45 PM Re: Wells Fargo Fined By OFAC Retread
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Some irony; the penalty was too small for Wells to fight.

Still, it will be cited as a precedent in the shadowy world of OFAC compliance where banks must do more in order to accomplish very little or, perhaps, nothing.
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#1861253 - 10/14/13 12:50 PM Re: Wells Fargo Fined By OFAC Retread
Xian Ngyuen Offline
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Joined: Aug 2013
Posts: 221
Clif Burn's Export Law Blog did an excellent essay on this penalty on Jun 27th.

What Do These Two People Have In Common? presents two guys named Richard,
both born on the same day; July 7, 1940.

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