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Podcast: Corruption Crime & Compliance
Episode: Deep Dive into SCG Plastics' $20 Million Settlement with OFAC to Resolve Violations of Iran Sanctions Program
Description: OFAC is capable of extending a long arm of enforcement, reaching sometimes non-U.S. companies that may "cause" another company to violate U.S. Sanctions laws. If you need to find an example of this long reach, look no further than OFAC's recent settlement with SCG Plastics ("SCG"). In this settlement, SCG, a Thai company that sells plastic resins, agreed to pay $20 million for violations of the Iran Sanctions Program.In this episode, Michael Volkov explores the series of actions that led to that $20 million dollar settlement, and the consequences....