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In addition to the recent, highly publicized regulatory actions due to the conflict in Ukraine, the United States government has been steadily turning up the heat on sanctions and export controls targeting Russia for years.

April 21, 2022
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Insight

This week, Financier Worldwide Magazine released their 2022 Sanction Compliance and Enforcement RoundTable report in their March issue. David Johnson, who leads V&E’s Government Contracts, and Export Controls and Economic Sanctions practices, contributed as a panelist in the conversation, which highlights the most pressing sanctions-related issues and enforcement activity in international trade in the past year.

Published in Financier Worldwide 

February 23, 2022
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Insight

On October 5, 2021, the Bureau of Industry and Security (“BIS”) issued a final rule formally expanding its controls over the export of biotechnology software.

November 11, 2021
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On February 18, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a half-million dollar settlement with BitPay, Inc. (“BitPay”), a U.S. company that processes digital currency transactions, for apparent sanctions violations involving buyers located in embargoed jurisdictions.

March 4, 2021
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On October 8, 2020, the Attorney General’s Cyber-Digital Task Force (“the Task Force”) issued its Cryptocurrency Enforcement Framework (the “Report”), which offers background on virtual assets, enforcement milestones, and plans for increasing scrutiny into the use of cryptocurrency, following the Task Force’s inception in 2018.

October 22, 2020
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On October 1, 2020, the Office of Foreign Assets Control (“OFAC”) issued guidance warning of potential sanctions risks for making ransomware payments related to malicious cybersecurity incidents. The same day, the Financial Crimes Enforcement Network (“FinCEN”) issued an advisory related to the role of financial institutions in processing ransomware payments.

October 8, 2020
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In December 2019, the Department of Justice (“DOJ”) announced a new Export Control and Sanctions Enforcement Policy for Business Organizations (the “Policy”) regarding voluntary self-disclosures of potentially criminal violations of export control and sanctions laws…

February 28, 2020