The U.S. Department of the Treasury's Office of Foreign Assets Control Assesses a Civil Monetary Penalty Against AppliChem GmbH

U.S. Department of the Treasury sent this bulletin at 02/14/2019 03:50 PM EST

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The U.S. Department of the Treasury's Office of Foreign Assets Control Assesses a Civil Monetary Penalty Against AppliChem GmbH

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $5,512,564 penalty against AppliChem GmbH (“AppliChem”) of Darmstadt, Germany for 304 violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515.  Between May 2012 and February 2016, AppliChem violated § 515.201 of the Cuban Assets Control Regulations when it fulfilled Cuba orders of chemical reagents on 304 invoices.  OFAC determined that AppliChem’s U.S. parent voluntarily self-disclosed the apparent violations, and that the apparent violations constitute an egregious case.

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