In The Anti‑Corruption Report: Preparing for a Sanctions Crackdown on Apparel Companies With Operations in China

October 3, 2018 - The article, "Preparing for a Sanctions Crackdown on Apparel Companies With Operations in China," by Ryan Fayhee and Ashley Hodges, was published in The Anti-Corruption Report.

During August 2018, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) added eight entities (including one bank), six vessels and two individuals to the Specially Designated Nationals and Blocked Persons List for violating U.N. sanctions against North Korea. The violations resulting in the designations included facilitating illicit shipments to North Korea, ship-to-ship transfers, a significant transaction and financial activity on behalf of North Korea. This spate of designations is demonstrative of OFAC’s aggressive use of its authority to express its dissatisfaction with North Korea’s lack of progress on denuclearization. It also signals that the agency will continue to target the shipping and financial services sectors in order to penalize and deter Chinese and Russian facilitation of North Korean government activities.

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