OFAC Issues Monthly Civil Penalties Report
The Treasury Department's Office of Foreign Assets Control (OFAC) has issued its monthly report of civil penalties imposed on companies and individuals for violating the sanctions regimes administered by OFAC. OFAC's August 5, 2005 report indicates that the agency settled one case with a corporate entity and entered into informal settlement agreements with 69 individuals for engaging in prohibited Cuba travel-related transactions.
OFAC settled the following cases with corporate entities (amount of the civil penalty is in parentheses):
--DHL Express (USA), Inc. for facilitating trade with Yugoslavia in 1999-2000 and for the late filing of its response to Requirement to Furnish Information in 2002-2003 ($25,000.00).
OFAC settled the following cases with individuals (OFAC does not publish names or amounts of individual settlements):
--OFAC settled 32 cases with individuals engaging in travel-related transactions with Cuba and imposed civil penalties totaling $34,400 (average settlement of $1075)
--OFAC settled 37 cases with individuals for traveling to and importing goods from Cuba. The total penalties imposed was $40,600 (average settlement of $1,097).
Labels: OFAC
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