SAP to pay over $8M for admitted Iran sanctions violations
By 
Aaron Nicodemus2021-04-30T18:09:00
German software company SAP SE agreed to pay more than $8 million in combined penalties issued by three U.S. agencies after admitting to committing numerous violations of sanctions against Iran.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleWells Fargo in resolution negotiations regarding potential OFAC violations
Wells Fargo disclosed in a regulatory filing it has entered resolution discussions with a U.S. authority or authorities regarding potential sanctions violations it voluntarily self-disclosed to the Treasury Department’s Office of Foreign Assets Control.
-
ArticleRomanian bank penalized over Iran and Syria sanctions lapses
The Office of Foreign Assets Control fined Romania-based First Bank and its U.S. parent company JC Flowers & Co. $862,318 as part of a settlement for First Bank’s processing of transactions in apparent violation of Iran and Syria sanctions.
-
ArticleAlfa Laval subsidiaries fined $430K for Iran sanctions violations
Dubai and U.S. subsidiaries of Swedish manufacturer Alfa Laval will settle OFAC charges they violated U.S. sanctions when they shipped storage tank cleaning units to an Iranian company.
More from Regulatory Enforcement
-
ArticleFTC suit against Uber gains traction with 21 states and DC joining in
The Federal Trade Commission allegations against Uber, alleging deceptive billing and subscription cancellations, have snowballed, with 21 states and the District of Columbia joining the lawsuit.
-
ArticleTop Ethics and Compliance Failures of 2025
The 2025 year has been so rich with compliance stinkers, and rife with poor judgment, compliance missteps, outright malfeasance and greed, greed, greed, that it was almost impossible to choose just six epic compliance failures from this year’s massive poop pile.
-
ArticleFATF focus on criminal asset recovery points to a more investigatory role for compliance
Global organised crime is booming, and only 1 to 2 percent of the $4 trillion black economy is intercepted, according to figures from the Financial Action Task Force. Its new guidance suggests that countries should focus on rapid investigations, collaborative intelligence gathering, and confiscating the proceeds of criminal activity.