South Africa:
OFAC Sanctions Individuals For Corruption And Misappropriation In South Africa
23 October 2019
Cadwalader, Wickersham & Taft LLP
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OFAC designated several individuals alleged to be
members of a "significant corruption network" in South
Africa.
The individuals were sanctioned pursuant to Executive Order 13818. According to OFAC, the
individuals were designated due to their (i) use of political
connections to perpetuate widespread corruption and bribery, and
(ii) misappropriation of state assets. OFAC found that the
individuals received ill-gotten gains and business opportunities
through their connections to political figures and parties.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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