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Anti-boycott Violations Yield Over $200,000 in Penalties

Friday, June 28, 2013
Sandler, Travis & Rosenberg Trade Report

The Bureau of Industry and Security has entered into separate agreements to settle allegations of the following violations of the anti-boycott provisions of the Export Administration Regulations.

- A Florida bank has been assessed a civil penalty of $52,380 for 16 violations related to the furnishing to Oman, Syria, Dubai and Lebanon of information about business relationships with boycotted countries or blacklisted persons.

- A controlled-in-fact foreign subsidiary of a U.S. company has been assessed a civil penalty of $182,325 after it voluntarily disclosed 66 violations related to its refusal to do business with or in a country boycotted by Libya and its furnishing to Libya of information about business relationships with boycotted countries or blacklisted persons.

In each case, if the penalty is not paid within 30 days, BIS may suspend all of the company’s export privileges for one year.

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