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Weekly Roundup: OFAC to Consider COVID-19 When Assessing Penalties, Former US Official Warns of Compliance Lapses During Pandemic, and More

The U.S. Treasury Department's Office of Foreign Assets Control plans to consider the impact of the coronavirus pandemic on sanctions compliance when determining fines, The Wall Street Journal reported. More A former senior Justice Department official said that firms may be tempted to cut compliance spending or overlook ethical lapses that expose them to long-term regulatory risks as they embrace an "emergency mentality" during the COVID-19 crisis, Law360 reported. More Italy's banking lobby has attributed delays in issuing state-subsidized loans amid the pandemic to credit checks and anti-money laundering processes, Reuters reported. More A U.S. appeals court rejected claims from...

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