U.S. company agrees to pay $91,000 to settle Cuban sanction regulations

OFAC determined that the apparent violations were voluntarily self-disclosed and were non-egregious.

Settle Cuban sanction regulations

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today announced that a registered money services business (a wholly owned subsidiary of an entity that operates an online marketplace for lodging, primarily homestays for vacation rentals, and tourism activities and headquartered in San Francisco, California) agreed to remit approximately $91,000 to settle its potential civil liability for apparent violations of sanctions against Cuba.

According to today’s OFAC release [PDF 392 KB], the targeted activities included the processing of certain guest payments as well as a failure to keep certain required records associated with Cuba-related transactions.

The settlement amount reflects OFAC’s determination that the apparent violations were voluntarily self-disclosed and were non-egregious.



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