Money transfer services company Payoneer will pay $1.4 million to resolve 2,260 apparent violations of U.S. sanctions in a settlement with the Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Friday.
Between February 2013 and February 2018, Payoneer processed 2,241 payments for parties located in sanctioned jurisdictions including the Crimea region of Ukraine, Iran, Sudan, and Syria, according to OFAC. Additionally, Payoneer processed 19 payments on behalf of sanctioned persons on OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List). These payments totaled just over $802,000, OFAC stated.
