Citigroup Inc

HQ Country of Company:
USA
Agency:
OFAC
Location of Sentencing:
Washington D.C.
Date:
Description:
Between April 2, 2009, and November 16, 2009, Citigroup Trade Services Malaysia (Citi Penang) processed four export bill collection applications totaling $638,074.15 on behalf of Citibank N.A. (Citibank), Hong Kong that involved the shipment of goods to Iran, and in two of those instances the Islamic Republic of Iran Shipping Lines (IRISL), which OFAC designated on September 10, 2008, pursuant to Executive Order 13382 of June 28, 2005, “Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters.” Although the bank had documentation in its possession related to the export bill collections that contained references to Iran and IRISL, Citi Penang operators did not review or screen the bills of lading, certificates of origin, or shipment advice which contained the references to Iran and/or IRISL.
Fine:
Total Fine
$217,841.00
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$217,841.00
Source:
Treasury, “Enforcement Information For September 3, 2014.”
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