The Obama administration unit central to enforcing economic sanctions on the regimes of Vladimir Putin and Bashar al-Assad has to contend with a nuisance closer to home: large banks poaching its staff.
Companies including HSBC Holdings Plc and Deloitte Touche Tohmatsu Ltd. are beefing up compliance expertise to ensure they or their clients don’t violate the set of programs the Treasury Department has more than doubled to 37 over the past decade. At least eight people of a staff of about 200 have left the Treasury’s Office of Foreign Assets Control in the past year, including no fewer than six in 2014.
