US drops sanctions against Irish-based Pacnet executives
16 May 2017
US authorities have dropped sanctions against a number of Irish-based executives working for payments company Pacnet, who were linked to an investigation of the Canadian-headquartered group last year.

Last autumn, the US department of the treasury sanctioned Pacnet for allegedly laundering money from schemes used to dupe people out of cash.

However, the department’s office of foreign assets control (Ofac) recently removed the names of a number of the Irish-based Pacnet employees and directors from its special designation list, which bars US residents from doing business with them and froze any assets they may have held in the US.

You can claim CPD minutes for this content, by signing up to our CPD Wallet


You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.