HSBC Bank USA Settles OFAC Case Involving SDN Financial Transactions
HSBC Bank USA (“HBUS”) will remit $32,400 to the Treasury Department’s Office of Foreign Assets Control (OFAC) to settle a potential civil liability case over three apparent violations of the Global Terrorism Sanctions Regulations, OFAC said on Dec. 17. HBUS…
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facilitated financial transactions involving an individual and entity on the Specially Designated Nationals and Blocked Persons List, OFAC said. HBUS voluntarily self-disclosed the apparent violations to OFAC, OFAC determined, adding that the violations did not constitute an egregious case.