By Aaron Nicodemus2023-05-23T12:57:00
DXC Technology Company disclosed it might have violated U.S. sanctions and export controls against Russia in its sale of a Russian subsidiary.
The Virginia-based IT services company stated Friday in a 10-K filing with the Securities and Exchange Commission it voluntarily disclosed the potential violations to the Treasury Department’s Office of Foreign Assets Control (OFAC) and Commerce Department’s Bureau of Industry and Security in August.
The company sold Luxoft’s Russia business to IBS Holding in April 2022 as part of its exit from the country following Russia’s invasion of Ukraine. Luxoft is a global digital and engineering firm DXC Technology purchased in 2019.
2024-05-20T15:21:00Z By Kyle Brasseur
IT services company DXC Technology disclosed it received word from the Office of Foreign Assets Control and Bureau of Industry and Security that it won’t be penalized regarding potential Russian sanctions/export control violations it voluntarily self-disclosed in 2022.
2023-12-12T20:23:00Z By Kyle Brasseur
More than 150 new designations implemented by the Office of Foreign Assets Control continue U.S. efforts to crack down on entities and individuals supporting Russia from outside the country.
2023-05-22T19:40:00Z By Adrianne Appel
The United States once again ratcheted up sanctions against Russia in an attempt to further choke off the funds and military supplies the country is using in its war against Ukraine.
2025-07-18T16:33:00Z By Aaron Nicodemus
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
2025-07-09T14:31:00Z By Aaron Nicodemus
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
2025-07-02T20:31:00Z By Aaron Nicodemus
A Delaware logistics company paid a $608,825 fine for violating U.S. sanctions on Cuba, a breach that the company self-disclosed to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
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