Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and An Individual

Release date
08/11/2020
Body

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $5,000 settlement with a natural U.S. person (“U.S. Person-1”).  U.S. Person-1, who at the time of the apparent violations was a civilian direct hire of the U.S. Army and stationed at the U.S. embassy in Bogota, has agreed to settle their potential civil liability for 24 apparent violations of the Foreign Narcotics Kingpin Sanctions Regulations (FNKSR), 31 C.F.R. part 598.  Specifically, between approximately October 2015 and August 2016, U.S. Person-1 engaged in at least 24 transactions that dealt in the blocked property interests of a foreign individual who at the time was a specially designated narcotics trafficker in apparent violation of the FNKSR.  OFAC determined that U.S. Person-1 did not voluntarily disclose the apparent violations, and that the apparent violations constitute an egregious case.

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