The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently announced a $134,523 settlement with the e-commerce giant Amazon.com, Inc. The announcement came after Amazon agreed to settle its potential civil liability for breaching several OFAC sanctions.
The OFAC had found Amazon’s sanctions screening processes highly deficient. The deficiencies resulted in Amazon providing goods and services to people that OFAC has sanctioned. Additionally, the company also supplied goods and services to people in the sanctioned jurisdictions of Crimea, Iran and Syria.
Moreover, Amazon failed to timely report hundreds of transactions for which the OFAC had a mandatory reporting requirement. The settlement amount is such because the company voluntarily self-disclosed its deficiencies and undertook significant remedial measures when it identified its OFAC violations.