Litigation counsel Rachel Fiorill was quoted extensively in an article published by the Global Association of Risk Professionals concerning the exacerbated compliance burdens and risks businesses face due to the stepped-up economic sanctions against Russia. In the article, “Restrictions on Russia Highlight Growing Complexity of U.S. Sanctions Regime,” published on March 18, Rachel commented on the resources companies need to devote to sanctions compliance.
“Companies’ compliance departments really need to make sure they’re devoting their resources to match the scale and sophistication of their operations,” she observed. Rachel added that “we’ve seen OFAC take a hard stance with companies that are collecting information for non-sanctions purposes that, through a sanctions lens, would have led them to realize there was a sanctions issue.”
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