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January 11, 2009 

OFAC Issues December 2008 Monthly Civil Penalties Report

On December 31, 2008, the Treasury Department's Office of Foreign Assets Control (OFAC) issued its monthly report (pdf) of civil penalties imposed on companies and individuals for allegedly violating the sanctions regimes administered by OFAC.

Companies - OFAC announced the following three settlements with companies:

  • Fidelity National Information Services of Maitland, Florida, the successor to Certegy Card Services, remitted $12,260.86 to settle allegations of violations of the Foreign Narcotics Kingpin Sanctions Regulations. OFAC alleged that on or about June through July, 2004, and prior to the February 2006 acquisition of Certegy by Fidelity, Certegy processed transactions on behalf of an individual whose property was blocked pending investigation, pursuant to the Foreign Narcotics Kingpin Designation Act, without an OFAC license. As a remedial measure, upon learning of that failure, Fidelity deployed its OFAC compliance program in order to prevent future violations. Certegy did not voluntarily disclose this matter to OFAC.
  • Eni Petroleum Co. Inc. of Houston, TX remitted $6,562.79 to settle allegations of violations of the Iranian Transactions Regulations occurring in 2003. OFAC alleged that Eni engaged in a trade-related transaction with Iran by facilitating the exportation of goods or services, directly or indirectly, to Iran without an OFAC license. Eni did not voluntarily disclose the matter to OFAC but cooperated with OFAC’s investigation.
  • OFAC imposed a $7,500 civil penalty on Premier Agency Inc. of Queens, New York for allegedly violating the Burmese Sanctions Regulations related to a funds transfer. As indicated by OFAC's penalty notice, Premier failed to respond to OFAC's requests for information regarding the funds transfer.
Individuals - OFAC settled one case involving individuals (OFAC does not release the names of individuals involved in civil penalty cases):
  • One individual was assessed a penalty totaling $7,500.00 for violating the Burmese Sanctions Regulations after OFAC received no response to two letters requesting information regarding the funds transfer involving Burma. [the individual appears to be the president of Premier Agency Inc., who is named in the penalty notice cited above].
In 2008, OFAC concluded 99 civil enforcement actions and imposed a total of $3,504,533 in civil penalties.

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