OFAC Release on 31K Penalty for Teledyne Technologies
The Office of Foreign Assets Control has released Enforcement Information for February 7, 2012 on a civil penalty for Teledyne Technologies Inc. According to OFAC, Teledyne Technologies Incorporated and its subsidiary, Teledyne RD Instruments, Inc. (“Teledyne”), have agreed to pay a mitigated $30,385 civil penalty to settle allegations of violations of the Sudanese Sanctions Regulations.
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Teledyne Indirectly Exported ADCPs to Sudan, but has Taken Appropriate Remedial Measures, Etc.
According to OFAC, on two occasions, Teledyne indirectly exported Acoustic Doppler Current Profilers (“ADCP”) to Sudan valued at $122,766. The base penalty amount for the alleged violations was $61,383. OFAC determined that Teledyne voluntarily self-disclosed this matter to OFAC and the alleged violations constitute a non-egregious case. The settlement amount reflects OFAC’s consideration of the following facts and circumstances, pursuant to the General Factors under OFAC’s Economic Sanctions Enforcement Guidelines. Teledyne has no history of prior OFAC violations; the exports of the ADCPs caused minimal harm to sanctions programs objectives; and Teledyne took appropriate remedial action upon learning of the potential OFAC violations.