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CUBA POLITICS SECTION - Havana Journal > OFAC
An OFAC “release of civil penalties” was just posted today and there was only one violation and that was for violating an Iranian transaction sanctions program.
The last OFAC civil penalties with a Cuban sanctions violation was back in August against an Australian bank.
So, all is quiet lately from the Obama Administration’s OFAC.
Perhaps OFAC is doing what it should be doing and looking for terrorist money rather than reviewing and fining people for traveling to Cuba and buying Cuban cigars over the Internet.
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BY FRANCES ROBLES | Miami Herald
Joan Brown Campbell, the church lady who befriended Elián González during his sojourn here a decade ago, has been to Cuba 37 times—except during the last Bush administration, when she could not get the required U.S. permission to visit the island for four straight years.
She applied again this year now that Barack Obama is in the White House and got the license to travel straightaway. The U.S. State Department even opened doors for her to invite several Cuban academics to visit New York. Among those who attended a conference Brown organized last month:…
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The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has amended the Cuban Assets Control Regulations to implement President Obama’s initiative of April 13, 2009 to change the rules in three major areas, family visits, family remittances, and telecommunications.
OFAC has issued a general license authorizing travel related transactions for visits to “close relatives” (aunts, uncles, cousins, and second cousins) who are nationals of Cuba. There is no limit on the frequency or duration such visits to “close relatives” and OFAC has also issued a general license easing restrictions on remittances. These amendments do not affect the prohibition…
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Australia and New Zealand Bank Group, Ltd., Settles Allegations of Violations of the Sudanese Sanctions Regulations and Cuban Assets Control Regulations:
Australia and New Zealand Bank Group, Ltd., Melbourne, Australia (“ANZ”), remitted $5,750,000 to settle allegations of violations of the Sudanese Sanctions Regulations, 31 C.F.R. Part 538, and the Cuban Assets Control Regulations, 31 C.F.R. Part 515.
The international trade finance and foreign currency exchange activities at issue in the settlement occurred from 2004 to 2006 and involved ANZ’s processing of transactions through U.S. correspondent accounts.
ANZ actively manipulated the…
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Rob Sequin | Havana Journal
OFAC, an agency within the US Department of Treasury has issued fines to two companies in their recent Civil Penalties Release. OFAC fined one individual $15,000 for violating the Cuba sanctions.
MGE UPS Systems, Inc., now known as American Power Conversion Corporation
MGE was assessed a Penalty for Violating the Cuban Assets Control Regulations in the amount of $10,341.00 for its violation of the Cuban Assets Control Regulations occurring in September 2005. MGE paid the fine for selling…
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Rob Sequin | Havana Journal
Contained in a release of OFAC’s Civil Penalties today, Philips Electronics of North America has agreed to settle allegations of violations of the Cuban Assets Control Regulations occurring between June 2004 and March 2006 by paying a fine of $128,750.00.
OFAC alleged that an employee of Philips of North America traveled to Cuba without an OFAC license in the course of business of selling medical equipment to Cuba.
Philips voluntarily disclosed this matter to OFAC and it was resolved according to prior enforcement guidelines published by OFAC, 68 Fed.…
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Rob Sequin | Havana Journal
Sol Melia, a publicly traded corporation based in Spain, is a well known hotel operator in Cuba yet they have a business office in Miami, have a business interest in the Paramount Hotel in New York City and have dozens of domain names registered at US based registrar GoDaddy.
This article entices one to ask why a corporation with such a large business interest in Cuba can have a US office and domains at a US based registrar while not having any compliance issues with OFAC.
I was motivated to research Sol Melia’s…
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Rob Sequin | Havana Journal
On May 15th, OFAC hosted the first annual OFAC International Trade Symposium in Washington DC.
I attended as an internet entrepreneur, not as a journalist since the event was not open to the press. OFAC did a fine job of presenting their US governmental responsibilities to the attendees and the event was very well attended. Below is a summary of OFAC presentations as they related to Cuba. There is a link at the end of this article that will take readers to all of the slide presentations from this…
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Rob Sequin | Havana Journal
OFAC Civil Penalties for violating the Cuban Assets Control Regulations
Varel Holdings, Inc. Settles Cuban Assets Control Regulations Allegations:
Varel Holdings, Inc., Dallas, Texas (“Varel”), has remitted $110,000.00 to settle allegations of violations of the Cuban Assets Control Regulations occurring between June 2005 and June 2006. OFAC alleged that, between June 2005 and June 2006, a foreign subsidiary of Varel made eleven unlicensed exports of goods in which Cuba or Cuban nationals had an interest. Varel voluntarily disclosed this matter to OFAC. This matter was resolved according to the prior…
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From OFAC release
The Office of Foreign Assets Control is sponsoring its first-ever International Trade Symposium designed to provide the international trade community with insight and perspective from top officials on compliance, enforcement and licensing issues related to U.S. export controls.
This one-day event provides a unique opportunity to hear from and interact with not only the Office of Foreign Assets Control, but key personnel in the Census Bureau, Customs and Border Patrol, Bureau of Industry and Security, and the State Department’s Office of Defense Trade Controls.
Participants can expect to gain insight…
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