Swiss IT Firm Pays $7.8 Million to Settle U.S. Sanctions Charge (1)

Feb. 26, 2020, 8:45 PM; Updated: Feb. 26, 2020, 9:11 PM

A Switzerland-based technology provider to the air travel industry is paying $7.8 million to resolve nearly 10,000 alleged violations of U.S. terrorism sanctions.

The Treasury Department’s sanctions enforcer on Wednesday said Société Internationale de Télécommunications Aéronautiques SCRL (SITA) agreed to settle its potential civil liability for working with sanctioned Syrian and Iranian airlines.

The multi-million dollar civil penalty is the largest leveled by the Office of Foreign Assets Control (OFAC) this year.

SITA, in a statement provided to Bloomberg Law, said the settlement accounts for its cooperation and its remedial actions.

“We will continue to invest in compliance personnel and...

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