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 |
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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