U.S. company agrees to remit $206,000 to settle various sanctions violations
Apparent violations of sanctions on Crimea, Iran, Syria, and Cuba
Apparent violations of sanctions on Crimea, Iran, Syria, and Cuba
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced that a U.S.-based company that manages prepaid reward card programs has agreed to remit over $206,000 to settle its potential civil liability for apparent violations of sanctions on Crimea, Iran, Syria, and Cuba.
Today’s OFAC release explains that between November 2017 and July 2022, the company enabled reward cards to be redeemed from persons in sanctioned jurisdictions. The settlement amount reflects OFAC’s determination that the conduct was non-egregious and voluntarily self-disclosed.
Read the enforcement release [PDF 212 KB] (November 6, 2023)
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 |
| John Anderson Managing Director E: johneanderson@kpmg.com |
Jenna Leigh Glass Managing Director E: jennaleighglass@kpmg.com |
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