Category Archives: Anti Money Laundering

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Sale of Cartier Jewels Triggers OFAC Violations – Luxury Brands Should Be Aware of U.S. Sanctions Risks

A settlement agreement between Richemont North America, the parent company of Cartier, and the Office of Foreign Assets Control (OFAC) for violations of U.S. sanctions regulations is an important wake up call for U.S. and global retailers, which have often considered themselves to be somewhat outside the scope of U.S. sanctions laws.  In truth, the … Continue Reading

US Govt Seeks $1.9 Million In North Korea Sanctions and Money Laundering Case

A recent suit filed by the U.S. Department of Justice (DOJ) for the forfeiture of nearly $2 million highlights the broad extraterritorial reach of U.S. sanctions laws.  On June 14, DOJ filed a complaint to seize funds associated with transactions between several Chinese companies, including Mingzheng International Trading Limited (Mingzheng).  Mingzheng and the other companies … Continue Reading
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