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

Release date
07/23/2021
Body

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Payoneer Inc. (“Payoneer”), a publicly traded New York-based online money transmitter and provider of prepaid access.  Payoneer agreed to remit $1,400,301.40 to settle its potential civil liability for 2,260 apparent violations of multiple sanctions programs.  Payoneer processed payments for parties located in the Crimea region of Ukraine, Iran, Sudan, and Syria, and also processed payments on behalf of sanctioned persons on OFAC’s List of Specially Designated Nationals and Blocked Persons (“SDN List”).   For more information, please visit the following web notice.