The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has entered into a settlement with the Texas-based global payments company MoneyGram Payment Systems, Inc. As part of the settlement, MoneyGram will remit $34,328.78 for 359 violations of various sanctions programs.
MoneyGram did not obtain a license from OFAC when providing money transfer services to blocked individuals imprisoned in the US. It also processed transactions both on behalf of another blocked person, and for clients conducting commercial transactions related to Syria.
In another case, OFAC has entered into a $2,132,174 settlement with the Germany-based software company SAP SE. SAP has 190 violations of the Iranian Transactions and Sanctions Regulations to its name. During 2013-18, SAP exported or sold technology or services from the US to companies in third countries when it knew (or should have known) that they were meant for Iran. SAP also sold cloud-based software subscription services to customers who then transferred them to their employees in Iran.
Source: US Department of the Treasury