- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2022-10-03T16:45:00
Tango Card, a Seattle-based supplier and distributor of electronic rewards, agreed to pay approximately $116,000 as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) for apparent sanctions violations related to its issuance of e-gift cards.
Tango Card transmitted at least 27,720 merchant gift cards and promotional debit cards totaling nearly $400,000 to individuals with email or IP addresses associated with sanctioned jurisdictions, including Cuba, Iran, Syria, North Korea, and Ukraine (Crimea), OFAC stated in an enforcement release Friday. The alleged lapses occurred from September 2016 through September 2021.
Tango Card voluntarily self-disclosed the matter to OFAC, which determined the case to be nonegregious.
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