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You are subscribed to Civil Penalties Information and/or Office of Foreign Assets Control (OFAC) Recent Actions updates for the U.S. Department of the Treasury.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $871,837 settlement with MID-SHIP Group LLC (“MID-SHIP”). MID-SHIP, a company headquartered in Port Washington, New York, has agreed to settle its potential civil liability for five apparent violations of the Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 C.F.R. part 544 (WMDPSR). Specifically, between on or about February 18, 2011 and on or about November 14, 2011, MID-SHIP processed five electronic funds transfers, totaling approximately $472,861, that pertained to payments associated with blocked vessels identified on OFAC’s List of Specially Designated Nationals and Blocked Persons. These transactions appear to have violated § 544.201 of the WMDPSR. OFAC determined that MID-SHIP did not voluntarily self-disclose the apparent violations, and the apparent violations constitute an egregious case.
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