Global giant, Amazon.com, Inc. has paid a US$134,523 fine to the US Treasury’s Office of Foreign Assets Control (“OFAC”) to settle a charge that could have resulted in a statutory civil monetary penalty amount of $1,038,206,212 for hundreds of sanctions violations across multiple jurisdictions. Why the low fine? And why so many violations?
According to OFAC, Amazon’s sanctions screening processes failed to fully analyze all transaction and customer data relevant to compliance with vari...
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