U.S. company agrees to settle violations of multiple sanctions programs
OFAC determined that the apparent violations were non-egregious case and that the company voluntarily disclosed the apparent violations
U.S. company agrees to settle violations
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today announced that a company based in Seattle, Washington that supplies and distributes electronic rewards agreed to pay approximately $116,000 to settle potential civil liability for apparent violations of multiple U.S. sanctions programs.
According to the OFAC release [PDF 217 KB], as a result of deficient geolocation identification processes, the company transmitted at least 27,720 stored value products to individuals with internet protocol and email addresses associated with Cuba, Iran, Syria, North Korea, and the Crimea region of Ukraine. OFAC determined that the apparent violations were non-egregious case and that the company voluntarily disclosed the apparent violations, has cooperated with OFAC and implemented remedial measures after discovery of the apparent violations.
For more information, contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
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