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OFAC settles with payments firms over sanctions violations

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

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Julie DiMauro

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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, Syria, and Cuba by

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