NewTek, Inc. — $189,483 OFAC penalty
OFAC published a $189,483 civil penalty against NewTek, Inc. on 09/09/2021. It is the #189 largest action in OFAC’s 1,052-entry enforcement chart and #13 of the 18 actions published that year.
The record
| Entity, as published by OFAC | NewTek, Inc. |
|---|---|
| Penalty / settlement amount | $189,483 |
| Date published by OFAC | 09/09/2021 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #189 of 1,052 |
| Rank within 2021 | #13 of 18 |
| Share of 2021 penalty total | 0.9% |
| Apparent violations cited | 52 |
| Statutory maximum penalty | $15,031,546 |
| Base penalty | $291,512 |
| Voluntarily self-disclosed | Yes |
| OFAC egregiousness determination | Non-egregious |
| Sanctions programs named in the release | Iran, Syria |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $15,031,546. The settled amount of $189,483 is 1.3% 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: 20210909_newtek.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2021 actions
- UniControl, Inc. — $216,464
- Schlumberger Rod Lift, Inc. — $160,000
- An Individual — $133,860
- TD Bank, N.A. — $115,005.04
- MoneyGram Payment Systems, Inc. — $34,328.78
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