By Jeff Dale2023-09-22T18:34:00
The Treasury Department’s Office of Foreign Assets Control (OFAC) ordered multinational conglomerate 3M to pay more than $9.6 million over apparent Iran sanctions violations by its subsidiary and a U.S. employee of a separate subsidiary.
Switzerland-based 3M (East) AG knowingly sold reflective license plate sheeting (RLPS) via a German reseller to entities linked to Iranian law enforcement, OFAC said in its enforcement release Thursday. Additionally, a U.S. person working for 3M’s Dubai-based subsidiary, 3M Gulf Limited, was closely involved in the sales, OFAC alleged.
OFAC acknowledged 3M voluntarily self-disclosed the apparent violations but deemed the case to be egregious because of the aggravating factors. The company terminated and formally reprimanded six employees involved, among other mitigating factors.
2023-12-11T16:43:00Z By Kyle Brasseur
Nasdaq agreed to pay more than $4 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations at the stock exchange operator’s former Armenian subsidiary.
2023-09-22T16:01:00Z By Kyle Brasseur
New York-based Emigrant Bank agreed to pay nearly $32,000 as part of a settlement with the Office of Foreign Assets Control addressing apparent sanctions violations regarding an account it maintained for a pair of Iranian residents.
2023-08-25T17:10:00Z By Jeff Dale
The Securities and Exchange Commission ordered 3M to pay nearly $6.6 million for alleged violations of the Foreign Corrupt Practices Act regarding hidden travel perks its foreign subsidiary made to government officials in China.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
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