Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and American Life Insurance Company

U.S. Department of the Treasury sent this bulletin at 11/14/2024 02:02 PM EST

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Release of OFAC Civil Penalties and Enforcement Information

New information on OFAC Civil Penalties and Enforcement Information is now available.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $178,421 settlement with American Life Insurance Company (ALICO), a subsidiary of MetLife, Inc. ALICO agreed to settle its potential civil liability for 2,331 apparent violations of OFAC sanctions on Iran. The apparent violations related to insurance policies provided to entities in the United Arab Emirates that were owned or controlled by the Government of Iran. The settlement amount reflects OFAC's determination that the apparent violations were voluntarily self-disclosed and were not egregious. For more information, please see the following Enforcement Release.

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Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and American Life Insurance Company

Release of OFAC Civil Penalties and Enforcement Information​​

Release of OFAC Civil Penalties and Enforcement Information