Wash. Company Agrees to Pay $1.3 Million to Settle OFAC Violations
Great Western Malting Co. of Vancouver, Wash., agreed to pay $1,347,750 to settle apparent violations of the Cuban Assets Control Regulations, said the Treasury Department's Office of Foreign Assets Control. The apparent violations occurred between August 2006 and March 2009,…
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when Great Western performed back-office functions for the sales by a foreign affiliate of non-U.S. origin barley malt to Cuba. OFAC said the apparent violations constitute a non-egregious case. It did say that Great Western did not have an adequate OFAC compliance program in place at the time of the violations and some of the violations involved transactions with Specially Designated Nationals (SDNs) in Cuba. But it said Great Western has no history of prior OFAC violations, substantially cooperated with OFAC, and, if the subject goods had been shipped from the U.S., they would have been eligible for an OFAC license.