Penalties for violations of sanctions rules administered by the Office of Foreign Assets Control (OFAC) ticked up again yesterday.  Most violations of OFAC’s rules now face statutory penalties of $295,141 or twice the value of the underlying transaction.  Penalties for violations of OFAC’s narcotics trafficking regulations are now set at $1,466,485, with penalties for violations of other OFAC regulations ranging from $13,333 to $86,976.

The penalty adjustments are tied to inflation and are mandated under the Federal Civil Penalties inflation Adjustment Act of 1990, as amended.