Monthly Archives: December 2012

The Upward Spiral: A Timeline of HSBC’s Iran Sanctions Violations

Yesterday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC), announced their second massive penalty of the week when it was made public that HSBC was remitting $375 million dollars to settle allegations that HSBC, through its U.S. subsidiary, HSBC USA (HBUS), violated OFAC sanctions targeting Iran, Burma, Sudan, Cuba, and...

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Iranian National and U.S. Citizen Plead Guilty to Iran Sanctions Violations

Yesterday, two individuals, Hamid Asefi and Behzad (Tony) Karimian pleaded guilty to violations of the Iranian Transactions and Sanctions Regulations (ITSR) as promulgated pursuant to the International Emergency Economic Powers Act (IEEPA). The charges stem from their involvement in the unlawful export of aircraft and aircraft parts from the United States to Iran without a...
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