Background

The Bureau of Industry and Security has issued an order imposing a $60,000 civil penalty against a financial institution to settle charges that it committed 20 violations of the anti-boycott provisions of the Export Administration Regulations. BIS alleged that from January 2012 through March 2016, in connection with the sale and/or transfer of goods or services (including information) from the U.S. to Kuwait, Lebanon, Oman, Pakistan, Qatar, and the United Arab Emirates, the bank furnished information concerning another person’s business relationships with other persons known or believe to be restricted from having any business relationship with or in a boycotting country. If the bank fails to pay the penalty in a timely manner the BIS may suspend its export privileges for one year.

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