U.S. OFAC announces $1.1 million settlement with online brokerage firm for violations of sanctions programs
Conduct was non-egregious and voluntarily self-disclosed
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $1,110,661 settlement with a parent company of online securities and futures brokerage firms and trading technology companies.
According to the OFAC release, the company agreed to settle its potential civil liability for 481 apparent violations of OFAC sanctions programs arising from the company’s provision of brokerage and investments services to persons in Iran, Syria, and Crimea, between June 2021 and June 2022.
The settlement amount reflects OFAC's determination that the company’s conduct was non-egregious and was voluntarily self-disclosed.