We post all OFAC Civil Penalty notices as they are posted by the US Treasury and this one was just released. I pasted in the text below. If you have been following our OFAC articles, you’ll notice something familiar to these penalty notices that something is missing… Cuba. There is usually one business penalty and at least a couple individual penalties for people who bought Cuban cigars over the internet.
This is the first report since I have been watching these reports that there are NO CIVIL PENALTIES FOR CUBA RELATED VIOLATIONS. Very interesting. I suppose the Bush administration finally decided to focus their efforts on chasing terrorist money after eight years in office.
ENFORCEMENT INFORMATION FOR January 2, 2009
Information concerning the civil penalties process is discussed in OFAC regulations governing the various sanctions programs and in 31 CFR part 501.
On September 8, 2008, OFAC published as Appendix A to part 501 new Economic Sanction Enforcement Guidelines. Although these new guidelines replace earlier enforcement guidelines published by OFAC, for certain matters that were in process at the time the new guidelines were published, the prior guidelines (which can be found at 68 Fed. Reg. 4422 and 71 Fed. Reg. 1971) are still applicable. Please see OFAC’s Revised Interim Policy regarding use of the prior guidelines. The Revised Interim Policy, along with the new guidelines and copies of recent final Penalty Notices, can be found on OFAC’s website at http://www.treas.gov/offices/enforcement/ofac/civpen
ENTITIES – 31 CFR 501.805(d)(1)(i)
Stena Bulk LLC (“Stena Bulk”) Settles Sudanese Sanctions Regulations Allegations: Stena Bulk has remitted $426,486.00 to settle allegations of violations of the Sudanese Sanctions Regulations occurring on or about December 4, 2002, to February 13, 2003, and February 8, 2007, to March 19, 2007. OFAC alleged that Stena Bulk appeared to have facilitated trade-related transactions with Sudan on behalf of foreign entities by providing transportation related services for the transportation of oil to Sudan and the exportation of Sudanese-origin oil without an OFAC license. Stena Bulk voluntarily disclosed the matter to OFAC.
Vonberg Valve, Inc. Settles Allegations of Violations of the Iranian Transactions Regulations: Vonberg Valve, Inc. (“Vonberg”), of Rolling Meadows, IL has remitted $11,049.50 to settle allegations of violations of the Iranian Transactions Regulations. OFAC alleged that Vonberg exported goods to Iran on or about April 29, 2004, without an OFAC license. Vonberg did not voluntarily disclose this matter to OFAC but has instituted improvements to its U.S. sanctions compliance program.
INDIVIDUALS – 31 CFR 501.805(d)(1)(ii)
One Individual Settles Burmese Sanctions Regulations Allegations: The individual has remitted $4,206.00 to settle allegations of violations of the Burmese Sanctions Regulations. On or about August 2006, the individual allegedly exported financial services to Burma by wiring funds in payment for goods, without an OFAC license.
For more information regarding OFAC regulations, please go to: http://www.treas.gov/offices/enforcement/ofac/