Airbnb Says It May Have Violated US Sanctions
Airbnb may have violated U.S. sanctions laws and submitted a voluntary self-disclosure to the Office of Foreign Assets Control in September, the company said in a Nov. 16 Securities and Exchange Commission filing. Airbnb said it began an internal review in 2019 and has been cooperating with OFAC “regarding certain user activity on our platform” that was “inconsistent with our policies” and U.S. sanctions laws. The company said those activities involved Ukraine's Crimea region, Cuba and certain OFAC specially designated nationals.
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.
OFAC issued Airbnb a cautionary letter but no penalties in July 2020 regarding the potential violations involving Crimea, the company said. Airbnb also received a cautionary letter and no penalties regarding violations surrounding the SDNs, the company said. It said OFAC is reviewing its voluntary self-disclosure regarding potential Cuban sanctions violations. The company “could be subject to potentially significant monetary civil penalties and litigation, and our brand and reputation could be materially adversely affected,” Airbnb said. It didn't comment further. OFAC declined to comment.