SanctionsAI penalties
Binance OFAC penalty
Binance paid $968 million to OFAC in November 2023 for processing transactions tied to sanctioned jurisdictions and entities. The largest crypto sanctions penalty in OFAC history.
Overview
Binance paid $968 million to OFAC in November 2023 for processing transactions tied to sanctioned jurisdictions and entities. The largest crypto sanctions penalty in OFAC history. Built for OFAC screening API users who need depth, not breadth.
How SanctionsAI helps
SanctionsAI is built for free ofac sanctions screening api. This page's recommendations are baked directly into the product.
- Free OFAC sanctions screening API
- Built specifically for OFAC screening API workflows
- Active development and support
- Documented API and integrations
Frequently asked questions
Is this page relevant to my use case?
If you are a OFAC screening API user, yes. The content is tailored to the specific challenges of penalties.
How often is this updated?
Reviewed quarterly and updated when the underlying data or best practices change.
Related resources
- BitPay OFAC Penalty (2021) — $507,375 [Case Study]
- EtherDelta OFAC Penalty (2018) — $450,000 [Case Study]
- Binance OFAC Penalty (2023) — $968,618,202 [Case Study]
- Is OFAC screening required for crypto exchanges? [2026 Guide]
- SanctionsAI vs Refinitiv World-Check — Which Is Better in 2026?
- Is OFAC screening required by law? — SanctionsAI FAQ