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Laura Deegan Quoted on Change to OFAC Sanctions Investigations in Compliance Week

"Questions Abound on Foreign Aid Bill Change to Sanctions Violations Lookbacks"

Compliance Week

In this article, Laura Deegan commented on the Treasury Department's Office of Foreign Assets Control (OFAC) new statute of limitations, allowing it to investigate potential violations under a 10-year look back rather than five years. "The new rule, which takes effect immediately, allows OFAC more leeway in its investigations of sanctions violations. Such probes tend to take a long time, and a five-year look back for violations can hamper the investigation," Deegan said.