First Bank SA, located in Romania, and its U.S. parent company, JC Flowers & Co., have agreed to remit $862,318 to settle potential civil liability for First Bank’s processing of transactions in apparent violation of OFAC’s Iran and Syria sanctions programs.

OFAC - Office of Foreign Asset Control

Source

Published on Aug. 27th, 2021 Published on Aug. 27th, 2021

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Sept. 20th, 2021

ORX Forum

ELSEWARE/MSTAR will be speaking on climate stress on operational risk at the ORX forum on September 23. In particular, we will be presenting the work we have done on this topic with the American Bankers Association and a group of banks.