Uphold HQ, a California-based money services company, will pay $72,230 to settle charges levied by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it processed sanctioned transactions for persons in Iran and Cuba and government employees in Venezuela.
OFAC alleged Uphold or its affiliates processed 152 transactions totaling $180,576 with individuals in jurisdictions under U.S. sanctions from 2017-22. Uphold facilitates money service transactions in 184 countries across more than 200 currencies, including cryptocurrencies, according to its website.
