Tagged: OFAC Cuba Sanctions

Airbnb Pays $91,172.29 for OFAC Violations of Cuba Sanctions

The Treasury Department’s Office of Foreign Asset Control started off the new year with an interesting enforcement action against Airbnb Payments, Inc. (“Airbnb”), a money service business subsidiary of Airbnb, Inc. Airbnb agreed to pay $91,172.29 for violations of OFAC’s Cuban Sanctions Program.  Airbnb discovered the violations as a result of a proactive forensic review that was approved by OFAC.  Given the number of records...

Travel Insurance Companies Hit with OFAC Enforcement Actions

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) continues to rack up settlements.  Two travel insurance companies recently settled OFAC enforcement actions for violations of the Cuban Embargo. Allianz Global Risks Allianz Global Risks US Insurance Company (“AGR US”) is the US subsidiary of the German financial company.  AGR US operates AGR Canada as a branch office in Toronto, Canada.  AGR US agreed to...