As a result of Russia's increased interest in undersea cables which serve to operate the internet worldwide, the U.S. Treasury Department has placed two individuals and two companies on its sanctions list. It did so because they aided a Russian firm Divetechnoservices which helped improve Russia's underwater surveillance abilities by buying undersea equipment and...
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Category: Sanctions Violations
Novartis to pay $25 million to settle S.E.C. sanctions action for foreign China bribes investigation
The Securities and Exchange Commission announced last week that it deems it appropriate and in the public interest that public administrative and cease and desist proceedings be issued under the SEC Act against Swiss pharma giant Novartis (NOVN: VX), alleging bribery activities in China.
The SEC statement said: "From at least 2009 to 2013, certain...
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Buzzfeed says Cisco flaunting U.S. sanctions on Russia and fudges records to hide sales
According to Buzzfeed, Cisco Systems Inc. is under scrutiny for flaunting U.S. sanctions on trading with Russia and alleges that the company purposefully changed buyer names and accounts to evade U.S. authorities scrutiny. Senator John McCain has called for a full investigation. This means that Cisco may have been selling equipment that will end...
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