SETTLEMENT AGREEMENT BETWEEN OFAC AND WESTERN UNION FINANCIAL SERVICES

On 7th June, a news release from OFAC advised that Western Union has agreed to settle its potential civil liability for 4,977 apparent violations of the Global Terrorism Sanctions Regulations, between 2010 and 2015 totalling approximately $1.275 million.  These were paid out to third-party, non-designated beneficiaries who chose to collect their remittances at a Western Union Sub-Agent in The Gambia, Kairaba Shopping Center (KSC), an entity that was designated by OFAC.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190607_33.aspx

https://www.treasury.gov/resource-center/sanctions/CivPen/Documents/20190607_western_union.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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