Natural Person OFAC Civil Penalty: $30K (2010)

On or about June 14, 2006, November 13, 2006, and November 27, 2006, the individual engaged in prohibited transactions when he sent and/or attempted to send funds to Iran for investment in a catering business located in Iran, in violation of the Iranian Transactions Regulations, 31 CFR 501.805(d)(1)(ii).

The individual did not voluntarily disclose the violations to OFAC. The violations were considered non-egregious in nature, and this was also the individual's first violation of an OFAC sanctions program. The $30,000 assessed penalty reflects OFAC's consideration pursuant to its Enforcement Guidelines, 74 Fed. Reg. 57,593 (Nov. 9, 2009).

This page summarizes an OFAC enforcement case based on the document archived below. SanctionsLookup assumes no liability for errors, omissions, or inaccuracies in the original documents, this summary, or any changes made to the source documents at any time.

Provided for informational purposes only and does not constitute legal or compliance advice. Always consult the source document directly rather than relying on this summary.