#ofac-compliance

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fromCSO Online
1 day ago

US Treasury Department sanctions individuals and entities over illegal IT worker scheme

These sanctions draw clear liability boundaries and nudge organizations towards stronger vetting without broad new regulations. A key risk to consider: If a US company unknowingly hires or pays a newly sanctioned contractor, the consequences can escalate quickly. OFAC violations are a strict liability, which means that intent does not matter, and civil fines can run up to significant amounts.
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