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

Release date
12/08/2021
Body

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $133,860 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 U.S. citizen living in the United States, has agreed to settle their potential civil liability for four apparent violations of the Iranian Transactions and Sanctions Regulations, 31. C.F.R. part 560.  Specifically, between approximately February 2016 and March 2016, U.S. Person-1 arranged for, and received, four payments on behalf of an Iranian company using a personal bank account in the United States.  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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