Havana Cuba Business Travel Culture and Politics

Havana Cuba News

Cuba Politics News

Posted July 10, 2012 by publisher in US Embargo

Email this article | Print this article | Search Havana Journal        

Great Western Malting Co. settles apparent violations of Cuban Assets Control Regulations

Great Western Malting Co. (“Great Western”), of Vancouver, Washington, has agreed to pay $1,347,750 to settle apparent violations of the Cuban Assets Control Regulations.

The apparent violations by Great Western occurred between August 2006 and March 2009, when it performed various back-office functions for the sales by a foreign affiliate of non-U.S. origin barley malt to Cuba.

The base penalty amount for the apparent violations was $5,990,000.

This matter was not the subject of a voluntary disclosure to OFAC and the apparent violations constitute a non-egregious case.

The settlement amount reflects OFAC’s consideration of the following facts and circumstances

Great Western is a large, sophisticated entity

Great Western did not have an adequate OFAC compliance program in place at the time of the violations

A number of the violations involved transactions with Specially Designated Nationals (SDNs) in Cuba

Some of the violations involved transactions which involved an SDN vessel

Great Western has no history of prior OFAC violations; Great Western substantially cooperated with OFAC, including entering into a statute of limitations tolling agreement

Lastly, had the the subject goods been shipped from the United States, they would have been eligible for an OFAC license.

Would you like to add more information?

Only members can add more information. Please register or log in

  • Advertise at Havana Journal Inc
We recommend this AirBnB Food and Drink Experience... Cuban flavors: Food, Rum and Cigars
Images of Cuba
Original Ernest Hemingway document
Follow Havana Journal
SUBSCRIBE to our Cuba Watch newsletter
LIKE us on Facebook

FOLLOW us on Twitter

CONNECT with us on Linked In

Section Archive
Havana Journal, Inc. BBB Business Review

Member of the Association for the Study of the Cuban Economy