[Video] Episode 462 — 475 Sanctions Violations: Screening, Cooperation, and the Cost of Getting No Credit

In this episode of Corruption, Crime and Compliance, Michael Volkov examines OFAC’s $11,662,930 settlement with Bank of America for 475 apparent sanctions violations, together with what the full Treasury package shows about remediation and cooperation. He walks through four failure modes: payments through 35 blocked banks, exact name and date of birth matches ranked as low priority, stale watchlists caused by vendor and internal errors, and mishandled business accounts tied to blocked persons….
By: The Volkov Law Group