Its latest enforcement action involves a $30 million settlement with OFAC for sanctions violations from 2008 to 2015. These violations include three separate OFAC sanctions involving Iran, Sudan, and Syria. Wells Fargo provided the European bank with trade finance software that was customized and used to conduct transactions that involved sanctioned entities and individuals, despite concerns raised internally on several occasions. OFAC found that "Wells Fargo demonstrated a reckless disregard for US sanctions requirements …and failed to exercise a minimal degree of caution or care in failing to identify and prevent such transactions for seven years after it acquired Wachovia…" Wells Fargo's conduct highlights the importance of a corporate culture of ethics and compliance. Companies must have proper oversight when pursuing new business opportunities or preserving existing business relationships and must promptly investigate and address sanctions compliance risks when raised internally, even in non-core business lines.