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).
The violations, which OFAC considered non-egregious, were allegedly committed by a Key Holding LLC subsidiary in Colombia, which the company acquired in 2021. The maximum civil monetary penalty for the violations was over $4 million, OFAC said in its enforcement release. Because Key Holding self-reported the violations, however, OFAC issued its fine totaling one-half the transaction value for each apparent violation.
