{"id":4206,"date":"2016-02-11T16:50:14","date_gmt":"2016-02-11T22:50:14","guid":{"rendered":"http:\/\/supfrt.com\/news\/?p=4206"},"modified":"2016-02-11T16:50:14","modified_gmt":"2016-02-11T22:50:14","slug":"ofac-barclays-bank-settlement-agreement-for-violations-of-zimbabwe-sanctions","status":"publish","type":"post","link":"http:\/\/supfrt.com\/news\/2016\/02\/11\/ofac-barclays-bank-settlement-agreement-for-violations-of-zimbabwe-sanctions\/","title":{"rendered":"OFAC &#8211; Barclays Bank Settlement Agreement for Violations of Zimbabwe Sanctions"},"content":{"rendered":"<p><a href=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/02\/OFAC-logo.jpg\" rel=\"attachment wp-att-4207\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-full wp-image-4207\" src=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/02\/OFAC-logo.jpg\" alt=\"OFAC logo\" width=\"220\" height=\"278\" \/><\/a>OFAC &#8211; Barclays Bank Settlement Agreement for Violations of Zimbabwe Sanctions<\/p>\n<div>OFAC [U.S. Department of the Treasury\u2019s Office of Foreign Assets Control]\u00a0announced a $2,485,890 settlement with Barclays Bank Plc (Barclays).\u00a0 Barclays agreed to settle its potential civil liability for 159 apparent violations of the Zimbabwe Sanctions Regulations, 31 C.F.R. Part 541.\u00a0 From July 2008 to September 2013, Barclays processed 159 transactions totaling $3,375,617 to or through financial institutions located in the United States \u2013 including Barclays\u2019 New York branch \u2013 for or on behalf of corporate customers of Barclays Bank of Zimbabwe Limited that were owned 50 percent or more, directly or indirectly, by a person identified on OFAC\u2019s List of Specially Designated Nationals and Blocked Persons.<\/div>\n<div>\n<hr \/>\n<\/div>\n<div><\/div>\n<div>This\u00a0enforcement action highlights the importance for institutions with operations in countries with a significant presence of persons (individuals and entities) on the SDN List to take appropriate measures to ensure compliance with U.S. economic sanctions laws when processing transactions on behalf of their customers to, through, or within the United States.<\/div>\n<div><\/div>\n<p>To see\u00a0 <a href=\"https:\/\/www.treasury.gov\/resource-center\/sanctions\/OFAC-Enforcement\/Pages\/20160208.aspx\">OFAC Enforcement Resource Center <\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OFAC &#8211; Barclays Bank Settlement Agreement for Violations of Zimbabwe Sanctions OFAC [U.S. Department of the Treasury\u2019s Office of Foreign Assets Control]\u00a0announced a $2,485,890 settlement with Barclays Bank Plc (Barclays).\u00a0 Barclays agreed to settle its potential civil liability for 159 apparent violations of the Zimbabwe Sanctions Regulations, 31 C.F.R. Part 541.\u00a0 From July 2008 to [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":4207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"yes","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[6,17,70],"tags":[50,71],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OFAC - Barclays Bank Settlement Agreement for Violations of Zimbabwe Sanctions - Superior Freight Services Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/supfrt.com\/news\/2016\/02\/11\/ofac-barclays-bank-settlement-agreement-for-violations-of-zimbabwe-sanctions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OFAC - Barclays Bank Settlement Agreement for Violations of Zimbabwe Sanctions - Superior Freight Services Inc.\" \/>\n<meta property=\"og:description\" content=\"OFAC &#8211; Barclays Bank Settlement Agreement for Violations of Zimbabwe Sanctions OFAC [U.S. Department of the Treasury\u2019s Office of Foreign Assets Control]\u00a0announced a $2,485,890 settlement with Barclays Bank Plc (Barclays).\u00a0 Barclays agreed to settle its potential civil liability for 159 apparent violations of the Zimbabwe Sanctions Regulations, 31 C.F.R. 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