Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
$10.5M OFAC settlemen
OFAC has announced a settlement with Fokker Services B.V. ("FSBV"), Hoofddorp, The Netherlands, of its potential civil liability of $50,922,208 for 1,112 alleged violations of the Iranian Transactions and Sanctions Regulations and 41 alleged violations of the Sudanese Sanctions Regulations. FSBV exported or reexported aircraft spare parts that were obtained or repaired in the United States to Iranian and Sudanese customers or end users without first obtaining required licenses. FSBV will satisfy its liability with the payment of a combined $10.5 million civil monetary penalty to OFAC and the Department of Commerce, a forfeiture of an additional $10.5 million pursuant under a deferred prosecution agreement reached with the Department of Justice's U.S. Attorney's Office for the District of Columbia, and the acceptance of responsibility for its egregious conduct. The base penalty for the alleged violations is over $145 million. OFAC determined that FSBV voluntarily self-disclosed this matter to OFAC and that the alleged violations constitute an egregious case.