Ofac Settlement Agreement

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On September 27, 2020, the Office of Foreign Assets Control (OFAC) of the Ministry of Finance announced that California-based Keysight Technologies Inc. (Keysight) has promised, on behalf of its former Finnish subsidiary Anite Finland Oy (Anite), the payment of $473,157 to settle possible civil liability for the re-export to Iran of U.S.-controlled meters. As part of this comparison, Keysight also expressed its readiness to define and maintain several sanctions compliance measures aimed at minimizing the risk of similar behaviour re-emerging in the future. Anite was a subsidiary of Keysight when the obvious infringements appeared in 2016, but Anite was merged with Keysight and no longer exists as a separate entity. This is the latest enforcement action that emphasizes the need to respect pre-compliance and post-merger compliance diligence, as well as the integration and compliance efforts that followed the merger. The U.S. Department of the Treasury`s Office of Foreign Assets Control (OFAC) today announced a comparison with Whitford Worldwide Company, LLC (« Whitford ») for $824,314. Whitford, a kitchenware coatings manufacturer based in Elverson, Pennsylvania, has agreed to settle potential civil liability for 74 obvious whitfords and sanctions regulations by Whitford and its subsidiaries in Italy and Turkey. In concrete terms, between November 2012 and December 2015, these subsidiaries sold coatings for customers in Iran and carried out other commercial transactions with Iran. In addition, Whitford`s U.S.

employees facilitated some of these transactions with Iran. OFAC found that Whitford voluntarily disclosed the overt violations and that the overt violations are a non-monstrous case. For more information, see the following web release and settlement agreement. The U.S. Department of the Treasury`s Office of Foreign Assets Control (OFAC) today announced a comparison with Generali Global Assistance, Inc. (GGA), a New York-based travel assistance company. GGA agreed to pay $5,864,860 to settle its possible civil liability for 2,593 clear violations of Cuban asset control rules. The GGA deliberately returned Cuba-related payments to its Canadian subsidiary, the avoidability of direct refunds to Cuban parties and travellers while operating in Cuba. The GGA then repaid these payments to its Canadian subsidiary.