OFAC Issues Monthly Civil Penalties List
The Treasury Department's Office of Foreign Assets Control (OFAC) today issued it monthly list of civil penalties imposed on companies and individuals for violating the sanctions regimes that are enforced by OFAC. The settlements include:
- A $58,944 penalty imposed by Fleet National Bank (on behalf of Bank of Boston and Sure Trade) for the 1995-2001 operation of Iran accounts and a 2000 funds transfer.
- Ebara International Corp., based in Sparks, Nevada, was fined $44,000 for facilitating trade with an Iranian entity in 2002 and 2003, attempting to export goods to Iran in 2002 and 2003 and "attempted evasion of the applicable regulations." (Ebara International recently agreed to a $121,000 civil penalty and a $6.3 million criminal finefor its role in illegal sales and exports of pumps to Iran).
- A $12,500 penalty was imposed on Medtronic MiniMed, Inc. for the exportation of goods to Yugoslavia in 1999 and 2000.
- Beau Rivage Resorts, Inc. of Biloxi, Mississippi was fined $5,625 for engaging in Cuba travel-related transactions.
- The law firm of Healy and Baillie LLP in New York was assessed a $1,000 penalty for "failing to respond to requirements to furnish information."
- An unamed individual was fined $33,000 for facilitating trade with an Iranian entity, attempting to export goods to Iran and attempted evasion of the applicable regulations (OFAC does not release the names of individuals that are assessed civil penalties).
www.treas.gov/offices/enforcement/ofac/civpen/penalties/10012004.pdf.
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