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OFAC determined that the apparent violations were non-egregious and voluntarily self-disclosed.įor more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact: The total value of the transactions constituting the apparent violations was approximately $3.7 million.
OFAC IRAN SANCTIONS REGULATIONS SOFTWARE
The company also sold cloud-based software subscription services accessed remotely through the company’s cloud businesses in the United States to customers that made the services available to their employees in Iran. Treasury Department’s Office of Foreign Assets Control (OFAC) today announced that a company headquartered in Germany has agreed to pay approximately $2.1 million to settle its potential civil liability for apparent violations of the Iranian transactions and sanctions regulations.Īccording to today’s OFAC release, during a period of over four years, the German company-a provider of enterprise application software, cloud-based services, and associated maintenance and support-exported software and related services from the United States to companies in third countries with knowledge or reason to know the software or services were intended specifically for Iran.