Microsoft Corporation has agreed to pay over $3 million to settle a potential civil liability, for being accused of 1,339 sanction violations for selling its products and services to individuals and companies in Russia and other certain other regions.
U.S. Treasury Department announced in a statement about the agreement reached with the software giant that the fine was imposed after the sanction, which related to office of foreign assets control laws (OFC) between July 2012 and April 2019.
The statement added that the U.S. Department of Commerce’s Bureau of Industry and Security and Treasury’s Office of Foreign Assets Oversight imposed fines on the company for violating the Penal Code.
A few days ago, the U.S. Federal Reserve imposed fines of about $97.8 million on Wells Fargo & Co Bank for failing to adequately control the likelihood of it failing to comply with U.S. sanctions on Iran, Syria and the Sudan resulting in its violation.
