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First Enforcement Actions Taken Over Russia Sanctions

By Brad Fulton

Welcome to This Week In Compliance: GAN’s weekly news roundup, where we curate the latest stories on compliance and anti-corruption to keep you informed. This week, the first enforcement actions were taken over Russian sanctions. Read the full story and more news below:

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First Enforcement Actions Taken Over Russia Sanctions

The U.S. Commerce Department reported this week that they have levied the first enforcement actions against corporations for violating sanctions against Russia for its attack on Ukraine. Russian airlines Aeroflot, Azur Air, and UTair have been denied U.S.-made parts and services due to the airlines’ restricted use of U.S. made aircraft. Many Western countries have launched a barrage of sanctions against Russia after its attack continue attacks on Ukraine beginning in late February.


Putin’s Daughters Face Possible EU, U.S. Sanctions Over Ukraine Invasion

The European Union has put forth sanctions against the daughters of Russian President Vladimir Putin as part of a new round of measures targeting the nation’s economy after its ongoing attacks on Ukraine. Maria Vorontsova and Katerina Tikhonova were added to the updated list of individuals facing sanctions which include asset freezes and travel bans.


U.S. Pharma CEO Charged in Contaminated Medication Distribution

Raidel Figueroa, a former CEO of Pharmatech, an American drug manufacturing company, has been charged with knowingly distributing medications that were contaminated by bacteria that are dangerous to those with weakened immune systems. The drug caused many hospitalizations and infant mortalities. In 2016, the company was investigated by the Food and Drug Administration, which found contamination in its water system.

Hackers Steal USD 650M in Cryptocurrency

Vietnamese officials are investigating the theft of more than USD 650M in cryptocurrency from Ronin Network, a centralized cryptocurrency exchange used for NFTs and online gaming services. By stealing authentication codes used for deposits and withdrawals by the in-game banking system, hackers were able to steal Ethereum cryptocurrency from users, as well as millions in a cryptocurrency called U.S. Coin, which ties its value to the U.S. dollar.

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