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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Generali Global Assistance, Inc. (GGA), a New York-incorporated travel assistance services company.  GGA agreed to remit $5,864,860 to settle its potential civil liability for 2,593 apparent violations of the Cuban Assets Control Regulations.  GGA intentionally referred the Cuba-related payments to its Canadian affiliate, thereby avoiding processing reimbursement payments directly to Cuban parties and to travelers while they were located in Cuba.  GGA then subsequently reimbursed its Canadian affiliate for those payments.  GGA formally codified this indirect payment process in its procedures manual.  OFAC determined that the case was voluntarily self-disclosed to OFAC and that the apparent violations constitute an egregious case.

For more information, please visit the following web notice and settlement agreement.

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Author: Editor
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