OFAC Releases Enforcement Report

On February 1, 2008, the Treasury Department's Office of Foreign Assets Control (OFAC) issued a report of civil penalties it has assessed (or settled) against entities and individuals. Here is a summary of the report:

La Salle Bank Midwest, N.A. of Chicago, IL, on behalf of Standard Federal Bank, remitted $5,500 to settle allegations of violations of the Iranian Transactions Regulations occurring on February 22, 2002.

BankAtlantic of Ft. Lauderdale, FL remitted $7,500 to settle allegations of possible violations of the Cuban Assets Control Regulations occurring in July 2004. 

Key National Bank Association of Cleveland, OH remitted $200,000 to settle allegations of violations of the Iranian Transaction Regulations occurring between 2002 and 2004.

Buehler Ltd. of Lake Bluff, IL has remitted $20,000 to settle allegations of violations of the Iranian Transactions Regulations occurring between September 2002 and November 2003.

RMO, Inc. of Denver, CO has been assessed a $941 civil monetary penalty for its violation of the Cuban Assets Control Regulations occurring on or about June 22, 2005.