OFAC: FINDING OF VIOLATION OF WMD SANCTIONS REGULATIONS BY AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY

A news release from the US Treasury on 30 April advised that OFAC had found violations of the Weapons of Mass Destruction Proliferators Sanctions Regulations, in that Amex issued a prepaid card to, and processed 41 transactions totalling $35,246.82 on behalf of, Gerhard Wisser, an SDN.  These violations were the result of human error and screening system defects.  Amex remediated and disclosed the violations to OFAC.  There is no monetary penalty associated with a Finding of Violation.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20200430.aspx

https://www.treasury.gov/resource-center/sanctions/CivPen/Documents/20200430_amex.pdf

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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