U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today issued a release, reporting that a North Carolina company has agreed to pay almost $108,000 to settle potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations.
According to the OFAC release [PDF 19 KB], from April to May 2011, the company exported product units and samples to its United Arab Emirates distributer with knowledge (or reason to know) that the goods were ultimately destined for Iran. It was reported that the company voluntarily self-disclosed these apparent violations.
For more information, contact a professional with KPMG’s Trade & Customs practice:
Douglas Zuvich | +1 (312) 665-1022 | firstname.lastname@example.org
Andrew Siciliano | +1 (631) 425-6057 | email@example.com
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