Criminal Defense Lawyers

Mitigating OFAC Civil Penalty Fines

You‘ve built a successful business or career. But now, you‘re facing potential penalties from the Office of Foreign Assets Control (OFAC). Don‘t panic – we‘re here to help. At Spodek Law Group, we understand the stress and uncertainty that comes with an OFAC investigation. Our team of experienced attorneys has helped countless clients navigate these complex waters, and we‘re ready to fight for you.

What is OFAC and Why Do They Issue Penalties?

OFAC is a division of the U.S. Department of the Treasury responsible for enforcing economic and trade sanctions. These sanctions are designed to further U.S. foreign policy and national security goals by targeting individuals, entities, and even entire countries engaged in activities deemed threatening or illicit.OFAC has the authority to issue civil and criminal penalties for violations of these sanctions programs. And let’s be clear – these penalties can be severe. We‘re talking millions of dollars in fines and even prison time in some cases. Yikes, right?

Common OFAC Violations and Penalties

So, what kinds of activities can land you in hot water with OFAC? Here are some common violations and their associated penalties:

Trading with the Enemy Act Violations

This act prohibits trade with designated enemy countries during times of war or national emergency. Penalties for violations can reach $90,000 per violation in 2023.

International Emergency Economic Powers Act (IEEPA) Violations

IEEPA allows the President to regulate economic transactions in response to national emergencies. Violations can result in penalties of up to $308,000 per violation in 2023.

Antiterrorism and Effective Death Penalty Act Violations

This act targets financial institutions that fail to comply with OFAC regulations related to terrorism. Penalties can reach $94,127 or twice the amount that should have been frozen, whichever is greater.

Foreign Narcotics Kingpin Designation Act Violations

Dealing with individuals or entities designated as narcotics traffickers under this act can lead to civil penalties of up to $1,771,754 per violation in 2023. Willful violations can also result in criminal charges and fines of up to $10 million for corporations or $5 million for individuals.

Christine Twomey

2024-03-21

Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.

Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

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Google rating score: 4.9 of 5, based on 736 reviews

Recordkeeping Violations

OFAC enforces strict recordkeeping requirements to prevent sanctions evasion. Penalties for violations can range from $3,439 to $68,801 in 2023, depending on the severity.Feeling overwhelmed yet? Don’t worry – we’re just getting started!

How OFAC Determines Penalties

OFAC doesn‘t just throw darts at a board to determine penalties. They follow a structured process outlined in their Economic Sanctions Enforcement Guidelines. Here‘s a quick overview:

1. Base Penalty Amount: OFAC first determines a base penalty amount based on factors like whether the violation was egregious or voluntarily self-disclosed.
2. General Factors: OFAC then considers a range of aggravating and mitigating factors, such as the violator’s compliance program, remedial efforts, and cooperation with the investigation.
3. Final Penalty: After weighing all the factors, OFAC calculates the final civil penalty amount.

But wait, there’s more! In some cases, OFAC may refer the matter to the Department of Justice for criminal prosecution. And you know what that means – potential prison time and even heftier fines.Feeling a little queasy yet? Don’t worry, we’re here to help you through this.

Our Approach: Aggressive Defense and Proven Strategies

At Spodek Law Group, we understand the complexities of OFAC regulations and the severe consequences of violations. That’s why our approach is two-fold:

1. Aggressive Defense: We’ll fight tooth and nail to protect your rights and minimize the penalties you face. Our team has a proven track record of successfully challenging OFAC penalties and negotiating favorable settlements.
2. Proven Strategies: We’ve been in this game for a long time, and we know all the tricks in the book. From asserting constitutional protections to preserving attorney-client privilege, we’ll leverage every strategy at our disposal to get you the best possible outcome.

But don‘t just take our word for it. Here‘s what one of our satisfied clients had to say:

“Spodek Law Group was a lifesaver. They not only helped me navigate the complex OFAC regulations, but they also negotiated a settlement that allowed me to keep my business afloat. I can‘t thank them enough.” – John D., Miami, FL

Impressed? You should be. But we’re just getting warmed up.

Why Choose Spodek Law Group?

At Spodek Law Group, we pride ourselves on being more than just another law firm. We‘re a team of dedicated professionals who truly care about our clients‘ well-being. Here‘s what sets us apart:

Experience and Expertise

Our attorneys have decades of combined experience handling OFAC investigations and sanctions-related matters. We’ve seen it all, and we know how to navigate even the most complex cases.

Personalized Attention

We understand that every case is unique, which is why we take a personalized approach to each and every client. You’ll never feel like just another number with us.

Proven Results

Our track record speaks for itself. We‘ve successfully defended clients against OFAC penalties time and time again, securing favorable outcomes and protecting their interests.

Unwavering Commitment

When you hire Spodek Law Group, you’re not just getting a law firm – you’re getting a partner who will fight tirelessly on your behalf. We’re in this together, every step of the way.Still not convinced? Let’s sweeten the deal.

Our Free Consultation Offer

We understand that facing OFAC penalties can be a daunting and overwhelming experience. That’s why we offer free, confidential consultations to all potential clients. During this consultation, one of our experienced attorneys will:

• Review the details of your case
• Explain the potential penalties you’re facing
• Outline our recommended strategy
• Answer any questions you may have

And the best part? There’s no obligation to hire us after the consultation. We want you to feel confident in your decision to work with us.So, what are you waiting for? Contact us today at 212-300-5196 or visit our website to schedule your free consultation.

Conclusion

Facing OFAC penalties can be a stressful and intimidating experience, but you don’t have to go through it alone. At Spodek Law Group, we have the experience, expertise, and unwavering commitment to fight for you every step of the way.