Toll Holdings has agreed to remit more than $6.1 million to settle a potential civil suit with the US government over the alleged violation of sanctions, the Department of the Treasury announced in a press release on Monday
WASHINGTON (Pakistan Point News / Sputnik - 25th April, 2022) Toll Holdings has agreed to remit more than $6.1 million to settle a potential civil suit with the US government over the alleged violation of sanctions, the Department of the Treasury announced in a press release on Monday.
"The US Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a settlement with Toll Holdings, an international freight forwarding and logistics company headquartered in Melbourne, Australia," the release said.
Toll Holdings agreed to remit $6.1 million to settle its potential civil liability for 2,958 apparent violations of the Iranian Transactions and Sanctions Regulations, the North Korea Sanctions Regulations, the Syrian Sanctions Regulations, the Weapons of Mass Destruction Proliferators Sanctions Regulations and the Global Terrorism Sanctions Regulations, the release said.
"The apparent violations occurred when Toll originated or received payments through the US financial system involving sanctioned jurisdictions and persons," the release added.
The payments were in connection with sea, air, and rail shipments conducted by Toll, its affiliates, or suppliers to, from, or through the Democratic People's Republic of Korea, Iran, or Syria, or the property or interests in property of an entity on OFAC's list of Specially Designated Nationals and Blocked Persons, according to the release.
