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$13,500 Penalty for Sudan Sanctions Violation

Thursday, December 22, 2011
Sandler, Travis & Rosenberg Trade Report

According to the Treasury Department’s Office of Foreign Assets Control, a Georgia company has agreed to remit $13,500 to settle allegations that it violated the Sudanese Sanctions Regulations in connection with the attempted sale and export of a boat and boat parts to an individual in Sudan. The base penalty amount for the alleged violations was $50,000. While OFAC determined that the company did not voluntarily disclose this matter, it also found that the alleged violations constituted a non-egregious case and that the company has no history of prior OFAC violations, substantially cooperated with OFAC’s investigation, entered into tolling agreements with OFAC and took appropriate remedial action upon learning of the potential violations.

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