OFAC SETTLEMENT WITH CALIFORNIA MONEY SERVICES BUSINESS FOR APPARENT SANCTIONS VIOLATIONS

On 31 March, OFAC announced a settlement with Uphold HQ Inc, a California-based money services business, which had agreed to pay $72,230.32 to settle its potential civil liability for apparent violations of multiple sanctions programs between March 2017 and May 2022, and involving 152 transactions totalling $180,575.80 in apparent violation of OFAC’s sanctions against Iran, Cuba, and Venezuela.

https://home.treasury.gov/system/files/126/20230331_uphold.pdf

https://www.buymeacoffee.com/KoIvM842y

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 View all posts by raytodd2017