U.S. technology company agrees to pay over $3 million to settle violations of export controls and sanctions laws
The company voluntarily self-disclosed the alleged violations, cooperated with the investigation, and took remedial measures.
Export controls and sanctions laws
The Bureau of Industry and Security (BIS) of the U.S. Department of Commerce and the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today imposed civil penalties totaling over $3 million against a multinational technology company based in Redmond, Washington.
BIS imposed an administrative penalty of approximately $624,000. The company entered into a corresponding settlement with OFAC, agreeing to pay over $2.9 million for 1,339 apparent violations of OFAC sanctions regulations involving Cuba, Iran, Syria, and Ukraine/Russia.
According to today’s BIS release [PDF 193 KB], the company voluntarily self-disclosed the alleged violations to both BIS and OFAC, cooperated with the joint investigation conducted by BIS’s Office of Export Enforcement and OFAC, and took remedial measures after discovering the conduct at issue.
Read the OFAC release [PDF 159 KB]
For more information, contact a professional with KPMG 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 |
| John Anderson Managing Director E: johneanderson@kpmg.com |
Jenna Leigh Glass Managing Director E: jennaleighglass@kpmg.com |
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