OFAC Settles Civil Case with Ubiquiti Over Iran Sanctions Violations
The Treasury Department’s Office of Foreign Assets Control (OFAC) settled a potential civil liability case with Ubiquiti Networks for alleged violations of the Iranian Transactions and Sanctions Regulations committed from 2008 to 2011, said OFAC. Ubiquiti allegedly engaged in the…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
export, reexport and facilitation of export with distributors, located in the United Arab Emirates and Greece, that then supplied products, such as broadband wireless connectivity and related items, to Iran. Ubiquiti agreed to pay $504,225 in the settlement for violations that OFAC says were not voluntarily disclosed but constitute a non-egregious case.