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Swiss company to settle terrorism-sanction regulatory violations for $8 million

Swiss company to settle terrorism-sanction violations

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced that a service provider for the civilian air transportation industry, headquartered in Geneva, Switzerland, has agreed to pay approximately $8 million to settle its potential civil liability for over 9,000 apparent violations of the U.S. global terrorism sanctions regulations.

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According to an OFAC release [PDF 242 KB], the Swiss company—between April 2013 and February 2018—provided commercial services and software that were subject to U.S. jurisdiction, and benefitted certain airlines after OFAC had designated those airlines as “specially designated global terrorists.” The Swiss company provides commercial telecommunications network and information technology services to the civilian air transportation industry. The Swiss company was paid approximately $2.5 million for the subject transactions.

OFAC determined that the service provider did not voluntarily self-disclose the apparent violations, and that the apparent violations constitute a non-egregious case.


For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:

Doug Zuvich
Partner and Global Practice Leader
T: 312-665-1022
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
T: 267-256-2614
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
T: 631-425-6057
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
T: 415-963-7861
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
T: 212-954-3094
E: labad@kpmg.com

Irina Vaysfeld
Principal
T: 212-872-2973
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
T: 202-533-3247
E: aahanchian@kpmg.com

Christopher Young
Principal
T: 312-665-3229
E: christopheryoung@kpmg.com

Gisele Belotto
Managing Director
T: 305-913-2779
E: gbelotto@kpmg.com

George Zaharatos
Principal
T: 404-222-3292
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
T: 313-230-3080
E: adoornaert@kpmg.com

Jessica Libby
Managing Director
T: 612-305-5533
E: jlibby@kpmg.com

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