Newmont Corporation — $141,442 OFAC penalty
OFAC published a $141,442 civil penalty against Newmont Corporation on 04/21/2022. It is the #203 largest action in OFAC’s 1,052-entry enforcement chart and #10 of the 14 actions published that year.
What OFAC said
Newmont has agreed to pay $141,442 to settle potential civil liability relating to Newmont subsidiary Newmont Suriname's purchase of Cuban-origin explosives and explosive accessories from a third-party vendor, in apparent violation of the Cuban Assets Control Regulations.
Quoted verbatim from OFAC’s enforcement release — read the original.
The record
| Entity, as published by OFAC | Newmont Corporation |
|---|---|
| Penalty / settlement amount | $141,442 |
| Date published by OFAC | 04/21/2022 (OFAC entry a) |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #203 of 1,052 |
| Rank within 2022 | #10 of 14 |
| Share of 2022 penalty total | 0.3% |
| Statutory maximum penalty | $367,264 |
| Base penalty | $176,803 |
| Voluntarily self-disclosed | Yes |
| OFAC egregiousness determination | Non-egregious |
| Sanctions programs named in the release | Cuba |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $367,264. The settled amount of $141,442 is 38.5% 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: 20220421_newmont.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2022 actions
- Tango Card, Inc. — $116,048.60
- Airbnb Payments, Inc. — $91,172.29
- S&P Global, Inc. — $78,750
- Chisu International Corporation — $45,908
- Banco Popular de Puerto Rico — $255,937.86
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