Multinational telecommunications company Société Internationale de Télécommunications (SITA) has agreed to pay approximately $7.8 million to settle 9,256 apparent sanctions violations with the Treasury Department’s Office of Foreign Assets Control (OFAC).
The settlement, announced Wednesday, covers alleged violations of Global Terrorism Sanctions Regulations (GTSR) between April 2013 and February 2018. OFAC deemed the case “non-egregious,” though the maximum civil monetary penalty applicable was north of $2.4 billion. The total transaction value of the apparent violations was $2,428,200, according to OFAC.
