Payoneer Inc. — $1,385,901.40 OFAC penalty
OFAC published a $1,385,901.40 civil penalty against Payoneer Inc. on 07/23/2021. It is the #90 largest action in OFAC’s 1,052-entry enforcement chart and #5 of the 18 actions published that year.
The record
| Entity, as published by OFAC | Payoneer Inc. |
|---|---|
| Penalty / settlement amount | $1,385,901.40 |
| Date published by OFAC | 07/23/2021 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #90 of 1,052 |
| Rank within 2021 | #5 of 18 |
| Share of 2021 penalty total | 6.6% |
| Apparent violations cited | 2,220 |
| Statutory maximum penalty | $654,357,316 |
| Base penalty | $3,849,726 |
| Voluntarily self-disclosed | No |
| OFAC egregiousness determination | Non-egregious |
| Sanctions programs named in the release | Iran, Syria, Ukraine/Crimea, Sudan, Zimbabwe, Weapons Proliferation |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $654,357,316. The settled amount of $1,385,901.40 is 0.2% 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: 20210723_payoneer_inc.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2021 actions
- Cameron International Corporation — $1,423,766
- PT Bukit Muria Jaya — $1,016,000
- Nordgas, S.r.l. — $950,000
- First Bank of Romania — $862,318
- SAP SE — $2,132,174
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