Tango Card to pay $116K for e-gift card sanction violations
By 
Kyle Brasseur2022-10-03T16:45:00
Tango Card, a Seattle-based supplier and distributor of electronic rewards, agreed to pay approximately $116,000 as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) for apparent sanctions violations related to its issuance of e-gift cards.
Tango Card transmitted at least 27,720 merchant gift cards and promotional debit cards totaling nearly $400,000 to individuals with email or IP addresses associated with sanctioned jurisdictions, including Cuba, Iran, Syria, North Korea, and Ukraine (Crimea), OFAC stated in an enforcement release Friday. The alleged lapses occurred from September 2016 through September 2021.
Tango Card voluntarily self-disclosed the matter to OFAC, which determined the case to be nonegregious.
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
-
Premium
Delayed UK antitrust case underscores compliance, reputational risks
Antitrust infringement cases in the United Kingdom can run on for years, but there’s a question whether issuing fines that are dwarfed by the revenues of those organisations involved is a worthy deterrent—particularly if they are imposed over a decade after the misconduct ended. It’s also debatable whether the first ...
-
Basic PageEthics education is key, says Tom Hardin AKA “Tipper X”
Tom Hardin AKA “Tipper X” went from a young trader with his whole career ahead of him to an inside trader who got caught, acted as a Federal Bureau of Investigation informant for two years, and pleaded guilty to a felony.
-
PremiumUnder intense pressure, former DOJ Polite says it’s compliance’s time to shine
Like never before in modern American history, ethics and compliance are under attack.
More from Regulatory Enforcement
-
News BriefFTC sues Uber over deceptive subscriptions, a rare move for consumers by Trump officials
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.