{"id":4544,"date":"2016-09-06T12:49:10","date_gmt":"2016-09-06T17:49:10","guid":{"rendered":"http:\/\/supfrt.com\/news\/?p=4544"},"modified":"2016-09-06T12:58:00","modified_gmt":"2016-09-06T17:58:00","slug":"9-4-million-penalty-for-violations-with-ofac-bis","status":"publish","type":"post","link":"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/","title":{"rendered":"$9.4 Million Penalty for Violations with OFAC &#038; BIS"},"content":{"rendered":"<p><a href=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/03\/OFAC-BIS-logo.jpg\" rel=\"attachment wp-att-4288\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-4288\" src=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/03\/OFAC-BIS-logo-300x275.jpg\" alt=\"OFAC-BIS -logo\" width=\"300\" height=\"275\" srcset=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/03\/OFAC-BIS-logo-300x275.jpg 300w, http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/03\/OFAC-BIS-logo.jpg 600w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>$9.4 Million Penalty for Violations with OFAC &amp; BIS<\/p>\n<p>With over 100 violations, Alcon Pharmaceuticals Ltd. (of Fribourg, Switzerland) and Alcon Laboratories (Dallas\/Fort Worth, TX) have\u00a0agreed to pay a total of $9.4 million in penalties to settle charges that it violated U.S. economic sanctions and export controls by engaging in the sale and exportation of medical end-use surgical and pharmaceutical products from the U.S. to distributors in Iran and Sudan without the required authorization.<\/p>\n<p>The Office of Foreign Assets Control (OFAC) states that the statutory maximum civil monetary penalty amount for the sanctions violations was $138,982,584 and that the base penalty amount was $16,927,000.<\/p>\n<p>While the settlement amount for the OFAC penalty is $7.62 million, OFAC states that the company\u2019s obligation to pay this amount will be satisfied by its payment of an $8.1 million penalty to the Bureau of Industry and Security (BIS) and a $1.32 million payment to the Treasury Department. The company\u2019s failure to pay these amounts in a full and timely manner may result in the suspension of its export privileges for one year.<\/p>\n<p>To read the details of the charges and penalties:\u00a0<a href=\"https:\/\/efoia.bis.doc.gov\/index.php\/component\/docman\/doc_download\/1068-e2466?Itemid=\">BIS<\/a>\u00a0&amp; <a href=\"https:\/\/www.treasury.gov\/resource-center\/sanctions\/CivPen\/Documents\/20160705_alcon.pdf\">OFAC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$9.4 Million Penalty for Violations with OFAC &amp; BIS With over 100 violations, Alcon Pharmaceuticals Ltd. (of Fribourg, Switzerland) and Alcon Laboratories (Dallas\/Fort Worth, TX) have\u00a0agreed to pay a total of $9.4 million in penalties to settle charges that it violated U.S. economic sanctions and export controls by engaging in the sale and exportation of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":4288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"yes","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[6,17,70],"tags":[49,50,71],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$9.4 Million Penalty for Violations with OFAC &amp; BIS - Superior Freight Services Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$9.4 Million Penalty for Violations with OFAC &amp; BIS - Superior Freight Services Inc.\" \/>\n<meta property=\"og:description\" content=\"$9.4 Million Penalty for Violations with OFAC &amp; BIS With over 100 violations, Alcon Pharmaceuticals Ltd. (of Fribourg, Switzerland) and Alcon Laboratories (Dallas\/Fort Worth, TX) have\u00a0agreed to pay a total of $9.4 million in penalties to settle charges that it violated U.S. economic sanctions and export controls by engaging in the sale and exportation of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/\" \/>\n<meta property=\"og:site_name\" content=\"Superior Freight Services Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pages\/Superior-Freight-Services-Inc\/123680337676686\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-06T17:49:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-09-06T17:58:00+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/supfrt.com\/news\/wp-content\/uploads\/2016\/03\/OFAC-BIS-logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Karen Edwards\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@supfrt\" \/>\n<meta name=\"twitter:site\" content=\"@supfrt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Karen Edwards\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/\",\"url\":\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/\",\"name\":\"$9.4 Million Penalty for Violations with OFAC & BIS - Superior Freight Services Inc.\",\"isPartOf\":{\"@id\":\"http:\/\/supfrt.com\/news\/#website\"},\"datePublished\":\"2016-09-06T17:49:10+00:00\",\"dateModified\":\"2016-09-06T17:58:00+00:00\",\"author\":{\"@id\":\"http:\/\/supfrt.com\/news\/#\/schema\/person\/87c1e871084e1ba227c1277e3246b645\"},\"breadcrumb\":{\"@id\":\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/supfrt.com\/news\/2016\/09\/06\/9-4-million-penalty-for-violations-with-ofac-bis\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/supfrt.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"$9.4 Million Penalty for Violations with OFAC &#038; BIS\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/supfrt.com\/news\/#website\",\"url\":\"http:\/\/supfrt.com\/news\/\",\"name\":\"Superior Freight Services Inc.\",\"description\":\"Global Strategies... 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