Tax Guru

OFAC Sanctions, Iran Imports & ₹6.75 Crore Consultancy Fee – ITAT Mumbai Says Revenue Cannot Sit in the Businessman’s Chair!

The Mumbai ITAT allowed deduction of professional fees paid for facilitating remittances relating to Iranian-origin imports affected by OFAC sanctions. The Tribunal held that the expenditure was ...
Homeland Security Today

Treasury Imposes Cyber Related Sanctions on Russian and UAE Individuals, Entities

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Sergey Sergeyevich Zelenyuk (Zelenyuk) and his company, Matrix LLC (doing business as Operation Zero), as well ...
JD Supra

Secondary OFAC Sanctions - Enforcement Trends, Case Studies, and Exposure of Non-U.S. Companies

Over the past decade, especially after the expansion of Russia-related measures in 2022, secondary sanctions have moved from a niche concept to a central pillar of U.S. economic enforcement. Unlike ...

Treasury Department tells US banks to flag suspected Iranian money-laundering networks

The Treasury Department wants U.S. banks to monitor suspected Iranian money laundering networks. These networks allegedly use ...

US imposes sanctions on three Iranian currency exchanges — accusing them of laundering billions

The US Treasury Department imposed sweeping sanctions Friday on three major Iranian currency exchange houses and more than a ...
The National Law Review

OFAC Whistleblowing: Exposing Sanctions Violations Under U.S. Law

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...
Ukrainska Pravda on MSN

US imposes sanctions on individuals and companies assisting Iran in Shahed drone production

The United States Department of the Treasury has announced sanctions against 10 individuals and entities that helped Iran ...