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Australian Transport Company Fined For Sanction Breach

Australian Logistics firm, Toll Holdings Limited, has reached a settlement with the US government of US$6.13 million for breaches of US sanctions against Iran, Syria and North Korea.

The Melbourne-based company had reportedly made “2,958 payments in connection with sea, air and rail shipments” that violated multiple sanctions, according to the Treasury Department’s Office of Foreign Assets Control (OFAC).

“The apparent violations occurred when Toll originated or received payments through the US financial system involving sanctioned jurisdictions and persons,” said OFAC. “Between approximately January 2013 and February 2019, Toll originated or caused to be received 2,958 payments in connection with sea, air, and rail shipments conducted by Toll, its affiliates, or providers and suppliers to, from, or through the DPRK [Democratic People’s Republic of Korea], Iran, or Syria.”

Due to the “non-egregious and voluntarily self-disclosed” nature of the violations, the settlement amount is much lower than the maximum possible fine of US$800 million.



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