Aiotec GmbH — $14,550,000 OFAC penalty
OFAC published a $14,550,000 civil penalty against Aiotec GmbH on 12/03/2024. It is the #29 largest action in OFAC’s 1,052-entry enforcement chart and #2 of the 12 actions published that year.
The record
| Entity, as published by OFAC | Aiotec GmbH |
|---|---|
| Penalty / settlement amount | $14,550,000 |
| Date published by OFAC | 12/03/2024 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #29 of 1,052 |
| Rank within 2024 | #2 of 12 |
| Share of 2024 penalty total | 29.8% |
| Statutory maximum penalty | $19,400,000 |
| Voluntarily self-disclosed | No |
| OFAC egregiousness determination | Egregious |
| Sanctions programs named in the release | Iran |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $19,400,000. The settled amount of $14,550,000 is 75.0% of that maximum, which OFAC's Enforcement Guidelines tie to factors including voluntary self-disclosure and whether the conduct was egregious.
Primary source
OFAC enforcement release: 20241203_aiotec.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2024 actions
- SCG Plastics Co., Ltd. — $20,000,000
- State Street Bank and Trust Company and its subsidiary, Charles River Systems, Inc. — $7,452,501
- EFG International AG — $3,740,442
- An Individual — $1,104,408
- Vietnam Beverage Company Limited — $860,000
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