Regulatory Alerts2026-02-25 | 20260225_66OFAC Settles with U.S. Person for $3,777,000 Over Syrian Sanctions Violations
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that a natural U.S. person agreed to pay $3,777,000 to settle potential civil liability for 20 apparent violations of Syrian sanctions. Between January 2018 and December 2021, the individual provided managerial services to four Syrian real estate companies as an officer and board member for luxury real estate projects. The settlement amount reflects OFAC's determination that the conduct was egregious and not voluntarily self-disclosed.
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