OFAC Settles Civil Case with Sea Tel Over Alleged Iran Sanctions Violations
The Treasury Department’s Office of Foreign Assets Control (OFAC) settled a potential civil liability case with Sea Tel Inc. over alleged violations of the Iranian Transactions and Sanctions Regulations, OFAC said on April 2. Sea Tel agreed to pay $85,113…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
for allegedly invoicing orders of marine antenna systems to a South Korean distributor that intended to reexport the products to Iran. Sea Tel voluntarily disclosed the action to OFAC, and the apparent violations constitute a non-egregious case, said OFAC.