Philips Electronics OFAC Settlement: $128.8K (2009)

Last updated: July 20, 2026

Philips Electronics of North America Corporation settled allegations of violations of the Cuban Assets Control Regulations, remitting $128,750.00 to OFAC. OFAC alleged that PENAC acted without an OFAC license through an employee's travel to Cuba in connection with the sale of medical equipment by a foreign affiliate of PENAC. The violations occurred between June 2004 and March 2006. PENAC voluntarily disclosed this matter to OFAC, and the matter was resolved according to the prior enforcement guidelines published by OFAC at 68 Fed. Reg. 4422.

Penalty Amount

$128,750.00

Enforcement Date

June 30, 2009

Rank in Top Penalties

#221

Case Details

Type:: Entity
Name:: Philips Electronics of North America Corporation
Country:: 🇺🇸 United States
Industry:: Hardware & Electronics
Address:: New York, NY
Penalty amount:: $128,750.00
Egregious case:: Unknown
Voluntary self disclosure:: Yes
Case:: Settlement
Violation period:: June 2004 to March 2006
Program:: Cuban Assets Control Regulations
Enforcement date:: June 30, 2009

Official Source Documents

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Archived on June 13, 2026

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