The Office of Foreign Assets Control (OFAC) fines Union de Banques Arabes et Françaises $8.5 million for Violations of Syria-Related Sanctions Program Regulations

On January 4th, 2021, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that an Union de Banques Arabes et Françaises agreed to pay $8,572,500 to settle potential civil liability for 127 apparent violations of Syria-Related Sanctions Program Regulations.

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