The General Electric Company — $2,718,581 OFAC penalty
OFAC published a $2,718,581 civil penalty against The General Electric Company on 10/01/2019. It is the #72 largest action in OFAC’s 1,052-entry enforcement chart and #5 of the 22 actions published that year.
The record
| Entity, as published by OFAC | The General Electric Company |
|---|---|
| Penalty / settlement amount | $2,718,581 |
| Date published by OFAC | 10/01/2019 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #72 of 1,052 |
| Rank within 2019 | #5 of 22 |
| Share of 2019 penalty total | 0.2% |
| Statutory maximum penalty | $18,785,000 |
| Base penalty | $3,377,119 |
| Voluntarily self-disclosed | Yes |
| OFAC egregiousness determination | Non-egregious |
| Conduct period cited | December 2010 - February 2014 |
| Sanctions programs named in the release | Cuba |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $18,785,000. The settled amount of $2,718,581 is 14.5% 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: 20191001_ge.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2019 actions
- Stanley Black and Decker — $1,869,144
- PACCAR Inc. — $1,709,325
- British Arab Commercial Bank plc — $4,000,000
- e.l.f. Cosmetics — $996,080
- MID-SHIP Group — $871,837
Screen against the live SDN list before you transact
Every action on this page began with a payment or transfer that was not screened. SanctionsAI is a free OFAC screening API for names and crypto wallets — read the API docs or check a wallet in the browser.