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OFAC settles with payments firms over sanctions violations

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Julie DiMauro

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Compliance considerations in the wake of OFAC’s settlement with daVinci Payments, which manages prepaid reward card programs.

The Office of Foreign Assets Control (OFAC) has announced its settlement order with daVinci Payments, which is an Illinois-based payments firm that largely manages prepaid reward card programs.

DaVinci agreed to pay $206,213 to settle its potential civil liability for its alleged violations of sanctions on Crimea, Iran,

OFAC

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