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Weekly Roundup: OFAC Fines U.N. Credit Union $500,000, German Investigators Raid Credit Suisse Offices, and More
printWhile news on U.S. economic sanctions has centered largely on Iran in recent months, the U.S. Treasury Department made clear Thursday that it hasn't forgotten about Cuba. The department's Office of Foreign Assets Control (OFAC) fined New York-based United Nations Federal Credit Union $500,000 for allowing transactions involving Cubans. A spokeswoman for the bank, which is not run by the United Nations but offers services to U.N. employees, said Friday that the infractions occurred over four years ago and involved accounts tied to 22 Cuban nationals. OFAC said it had reduced the bank's fine from an original amount of over...
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