By Kyle Brasseur2023-04-20T16:27:00
Data storage company Seagate will pay the largest stand-alone administrative penalty in the history of the Commerce Department’s Bureau of Industry and Security (BIS) for violating export control restrictions against Chinese telecommunications giant Huawei.
Subsidiaries Seagate Technology, of California, and Seagate Singapore International Headquarters agreed to pay $300 million for their admitted violations of export administration regulations regarding the sale of more than 7.4 million hard disk drives to Huawei entities from August 2020 through September 2021. The value of the hard disk drives surpassed $1.1 billion, according to the BIS.
As part of the settlement, Seagate also agreed to a multiyear audit requirement of its export control compliance program and five-year suspended denial order.
2025-05-23T16:46:00Z By Adrianne Appel
Thousands of computers and other consumer electronic devices imported into the U.S. that were certified as safe by foreign laboratories have been identified as having links to the Chinese government or military, Brendan Carr, chair of the Federal Communications Commission, said Thursday in announcing an order to close the security ...
2023-05-17T03:20:00Z By Kyle Brasseur
A new strike force co-led by the Department of Justice and Commerce Department made an impact when charges against a former Apple engineer for theft and attempted theft of trade secrets were included as part of its first enforcement actions.
2023-05-01T16:22:00Z By Kyle Brasseur
Not knowing with certainty whether the business you’re conducting meets all relevant regulatory standards is a recipe for trouble, as Seagate learned in paying $300 million for its restricted dealings with Chinese telecom Huawei.
2025-09-05T18:10:00Z By Aaron Nicodemus
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
2025-09-04T17:31:00Z By Adrianne Appel
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
2025-09-03T17:43:00Z By Adrianne Appel
The Federal Trade Commission (FTC) proposed an enforcement action against Disney for allegedly collecting personal information about children, and then threw salt in the wound by calling the company out in an alert emailed to an untold number of businesses.
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