Alliance Steel, Inc. — $435,003 OFAC penalty
OFAC published a $435,003 civil penalty against Alliance Steel, Inc. on 04/19/2021. It is the #144 largest action in OFAC’s 1,052-entry enforcement chart and #10 of the 18 actions published that year.
The record
| Entity, as published by OFAC | Alliance Steel, Inc. |
|---|---|
| Penalty / settlement amount | $435,003 |
| Date published by OFAC | 04/19/2021 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #144 of 1,052 |
| Rank within 2021 | #10 of 18 |
| Share of 2021 penalty total | 2.1% |
| Apparent violations cited | 61 |
| Statutory maximum penalty | $17,335,192 |
| Base penalty | $725,004 |
| Voluntarily self-disclosed | Yes |
| OFAC egregiousness determination | Non-egregious |
| Sanctions programs named in the release | Iran |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $17,335,192. The settled amount of $435,003 is 2.5% 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: 20210419_alliance.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2021 actions
- Alfa Laval Middle East Ltd. — $415,695
- BitPay, Inc. — $507,375
- UniControl, Inc. — $216,464
- NewTek, Inc. — $189,483
- Schlumberger Rod Lift, Inc. — $160,000
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