Penalties for a sanction breach can range from monetary to deferred prosecution agreements (DPA) and can be as severe as criminal prosecution. Substantial financial penalties can and have been issued and publicly disclosed which can have severe reputational impact.
Enforcement penalties issued by OFAC in 2019 alone hit a record high of $1.3 billion. The UK regulating body OFSI in 2021, issued their largest fine to date of £20.5 million to Standard Chartered Bank following their alleged breach of sanctions.
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