On July 15, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement with Interactive Brokers LLC (IB), a major global electronic broker-dealer providing brokerage and investment services to millions of customers worldwide.

This case serves as a strong reminder for financial institutions: a sanctions compliance program should commensurate with the size, speed, and complexity of a business’ operations.

VERBA LEGAL's Sanctions Practice comprising Managing Partner Tatyana Neveeva, Counsel Marat Samarskiy, and Associates Tatiana Zelenovskaia and Yulia Koroleva prepared a special alert to describe the case.

VERBA LEGAL's experts elaborate on how insufficient attention to sanction restrictions may lead to material financial consequences, even if the violations were minimal.