It's a very far-reaching and impactful statutory change, and it's one that happened very quietly and has surprised a lot of sanctions practitioners and people in industry.
The extension of the statute of limitations for sanctions violations in particular could have a big impact on companies. ...Companies may now have to do a 10-year lookback.
The change could lead to more cases and bigger fines against companies, lawyers say. ...[The] Justice Department last year said it was hiring dozens of new prosecutors to staff a section that investigates criminal violations of economic sanctions and export controls.
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