Articles Tagged with #IranSanctions whistleblower

The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) has issued an Advisory for the civil aviation industry, including parties providing services to that industry warning them not to engage in or support unauthorized transfers of U.S. origin aircraft or related goods to Iran or those who do business with Iranian airlines. The potential sanctions and prosecutions could be significant for violations.

The Advisory has an interesting section relating to financial institutions relating to the unauthorized purchase, sale, delivery or provision of goods or services to Iran, its Government, its airlines even if the transactions are conducted wholly outside the United States.

“…Foreign financial institutions that knowingly conduct or facilitate significant financial transactions for or on behalf of certain designated Iran related persons…may be exposed to sanctions… which may include loss of access to the U.S. financial system.