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ARTICLE · 20 AUGUST 2025

OFAC Settles Broker-Dealer Sanctions Case With Minimal Fine

Lewis Brisbois Bisgaard & Smith LLP
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On July 15, 2025 the Office of Foreign Assets Control (OFAC) settled apparent (the term OFAC uses) violations by Interactive Brokers LLC (IB) of multiple OFAC sanctions programs.

GlobalInternational Law
Thomas Brooks
Thomas Brooks
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Washington, D.C. (August 19, 2025) - On July 15, 2025 the Office of Foreign Assets Control (OFAC) settled apparent (the term OFAC uses) violations by Interactive Brokers LLC (IB) of multiple OFAC sanctions programs. IB is a Connecticut-based global electronic broker-dealer providing brokerage and investment services to millions of customers worldwide through its online brokerage platform. It agreed to pay $11,832,136 to settle its multiple apparent violations. For almost eight years ending in January 2024, IB provided brokerage and investment services to persons in Iran, Cuba, Syria, and the Crimea region of Ukraine (together the Sanctioned Countries), processed trades in securities subject to the Chinese Military-Industrial Complex program, conducted transactions involving blocked persons under OFAC's Russia, Global Magnitsky, Venezuela, and Syria sanctions programs, and engaged in new investment in the Russian Federation.

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