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Friday, August 18, 2017
Volume:
33
Issue:
8
Abstract:
On August 10, 2017, the Office of Foreign Assets Control (OFAC) announced that it has settled civil charges of violating the Iran Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR), with IPSA International Services, Inc. (IPSA), Phoenix, Arizona. The alleged violations concern 44 separate instances of IPSA’s importation of Iranian-origin services into the United States in violation of § 560.201 of the ITSR, and on 28 instances, IPSA’s engagement in transactions or dealings related to Iranian-origin services by approving and facilitating its foreign subsidiaries’ payments to providers of Iranian-origin services in apparent violation of §§ 560.206 and 560.208 of the ITSR.