On Tuesday, OFAC assessed a civil monetary penalty on an individual for violating the ITSR (Iranian Transaction Sanctions Regulations) – here's the notice in its entirety:
ENFORCEMENT INFORMATION FOR May 6, 2014
Information concerning the dvil penalties process is discussed in OFAC reguiationsgoverning the various sanctions programs and in 31 CFR part 501. On November 9, 2(109,OFAC published as Appendix A to part 501 Economic Sanctions Enforcement Guidelines.See 31 C.F.R. part 501, app. A. The Economic Sanctions Enforcement Guidelines, as wellas recent final civil penalties and enforcement information, can be found on OFAC's Website at http://www.treasur>'.gov/ofac/enforcement.
INDIVIDUALS - 31 CFR 501.805(d)(l)(ii)
Individual Settles Potential Civil Liabilit>^ for Alleged Violations of the IranianTransactions and Sanctions Regulations: An individual from Washington state has agreed topay $29,340 to settle potential civil liability for alleged violations ofthe Iranian Transactions andSanctions Regulations, 31 C.F.R. part 560 (the “iTSR”).' Specifically, OFAC alleged that fromon or about May 21, 2007, to on or about November 12, 2009, the individual exported, sold,and/or supplied unlicensed medical goods and/or related financial services from the UnitedStates to Iran, in violation ofthe ITSR. The alleged violations involved 19 separate transactions,valued at $49,341, in which the individual acted as a third-party recipient for goods destined forIran and/or provided banking services to a person in Iran.
OFAC determined that the individual did not voluntarily self-disclose the matter to OFAC andthat the alleged violations constituted a non-egregious case. The base penalty amount for thealleged violations totaled $163,000.
The settlement amount reflects OFAC's consideration ofthe following facts and circumstances,pursuant to the General Factors under OFAC's Economic Sanctions Enforcement Guidelines. 31C.F.R. part 501, app. A: the individual demonstrated recklessness by continuing to engage in theconduct after OFAC issued a waming letter for similar past conduct; the individual had notpreviously received a penalty notice or Finding of Violation from OFAC in the five yearspreceding the earliest date of the transactions giving rise to the alleged violations; the goodswere medical devices that are potentially licensable by OFAC under existing licensing policy;the individual cooperated with OFAC's investigation and agreed to toll the statute of limitations;and, OFAC considered the totality of the circumstances to ensure that the civil monetar}' penaltyis proportionate to the nature of the alleged violations.
For more infonnation regarding OFAC regulations, please go to: mnvw.treasur^'.gov/ofac.
Note the reference to a different subsection of 31 CFR 501.805 (for corporates, it's (d)(I)(i))…
So, is this a new trend (actually, going back to the old trend from a number of years ago), or just an aberration? Given the other small fine assessed at the same time (against Decolar.com, Inc.), it makes you wonder…
Link:
Posted with BlogsyFiled under: Iranian Sanctions, OFAC Updates, Settlements
