OFAC Releases Recent Civil Penalties and Enforcement Info
The Office of Foreign Assets Control has released new civil penalties and enforcement information as follows:
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- Aegis Electronic Group, Inc. of Gilbert, AZ has agreed to pay $20,000 to settle allegations of violations of the Iranian Transactions Regulations by its unlicensed sale and export of camera control units to Austria with knowledge that the items were intended for re-export to Iran. Aegis did not voluntarily disclose this matter to OFAC.
- McGriff, Seibels & Williams of Texas, Inc. of Houston, TX has paid $122,408 to settle allegations of violations of the Iranian Transactions Regulations by its unlicensed design, revision, and placement, with foreign insurers, of six commercial multiple peril insurance policies that insured the risks of a submersible oil rig in Iranian waters. McGriff voluntarily disclosed this matter to OFAC and the alleged violations constituted a non-egregious case.
- Metropolitan Life Insurance Company of New York, NY has remitted $22,500 to settle allegations of a violation of the Cuban Assets Control Regulations when MetLife mailed a check representing a $30,162 lump sum death benefit payment directly to the beneficiary in Cuba. This matter was not voluntarily disclosed by MetLife.