U.S. announcement: Australian freight forwarding company agrees to pay over $6 million to settle violations of sanctions regulations

Australian company agrees to settle its potential civil liability for violations of sanctions regulations

Company agrees to settle potential civil liability for violations of sanctions regulations

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today announced that an international freight forwarding and logistics company headquartered in Melbourne, Australia, agreed to remit approximately $6.1 million to settle its potential civil liability for 2,958 apparent violations of the Iranian Transactions and Sanctions Regulations, the North Korea Sanctions Regulations, the Syrian Sanctions Regulations, the Weapons of Mass Destruction Proliferators Sanctions Regulations, and the Global Terrorism Sanctions Regulations.

According to today’s OFAC release [PDF 145 KB], the apparent violations occurred when the company originated or received payments through the U.S. financial system in connection with sea, air, and rail shipments that involved sanctioned jurisdictions and persons.

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


For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
Principal
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
E: aahanchian@kpmg.com

Christopher Young
Principal
E: christopheryoung@kpmg.com

Gisele Belotto
Principal
E: gbelotto@kpmg.com

George Zaharatos
Principal
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
Principal
E: jlibby@kpmg.com

 

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