Regulatory Alerts2026-02-12 | 20260212Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and IMG Academy, LLC
The U.S. Department of the Treasury's Office of Foreign Assets Control announced a $1,720,000 settlement with IMG Academy, LLC for 89 apparent violations of counternarcotics sanctions. Between 2019 and 2025, the entity processed tuition payments for two Specially Designated Nationals linked to a Mexican drug cartel. The penalty reflects OFAC's determination that the conduct was non-egregious and not voluntarily disclosed.
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