January 28, 2023

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OFAC Announces Settlement Agreements With American Honda Finance Corporation and American International Group, Inc.

On 8 June 2017, the Office of Foreign Assets Control (OFAC) announced a settlement agreement with American Honda Finance Corporation (AHFC), a California company, under which AHFC agreed to pay US$87,255 to settle apparent violations of Cuba sanctions. Separately, on 26 June 2017, OFAC announced a settlement agreement with American International Group, Inc. (AIG), a Delaware company headquartered in New York, under which AIG agreed to pay US$148,698 to settle apparent violations of sanctions related to Iran, Sudan, Cuba and weapons of mass destruction.

© Copyright 2023 Squire Patton Boggs (US) LLPNational Law Review, Volume VII, Number 207
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