The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced an $11,832,136 settlement with Interactive Brokers LLC (IB). IB agreed to settle its potential civil liability for apparent violations of several OFAC sanctions programs that arose from IB’s provision of brokerage and investment services to persons in Iran, Cuba, Syria, and the Crimea region of Ukraine, processing of trades in securities subject to the Chinese Military-Industrial Complex program, processing of transactions involving blocked persons under OFAC’s Russia, Global Magnitsky, Venezuela, and Syria sanctions programs, and engagement in new investment in the Russian Federation. OFAC determined IB’s conduct was non-egregious and voluntarily self-disclosed. For more information, please visit the following Enforcement Release.
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