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OFAC case shows result of willful disregard, and need for risk-based due diligence

Image of a "For Sale" sign displayed outside of a home.
Photo: Joe Raedle/Getty Images

Julie DiMauro

4 min read
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The charged individual continued to deal in the property even after receiving word of its blocked status.

The US Department of the Treasury’s Office of Foreign Asset Control (OFAC) announced a $4.67m civil monetary penalty against an individual for violations of OFAC’s sanctions against Russia and for related reporting obligations.

OFAC says that between April 2023 and March 2024, this person “willfully dealt in residential

OFAC’s penalty

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