CSE Global to pay US$12m to settle apparent violations of Iran sanctions: US

Published Fri, Jul 28, 2017 · 04:02 AM

[WASHINGTON] Singapore-based technology company CSE Global Ltd has agreed to pay more than US$12 million to settle 104 apparent violations of Iran sanctions by its subsidiary, the US Department of Treasury said on Thursday.

The subsidiary, CSE TransTel Pte Ltd, "caused at least six separate financial institutions to engage in the unauthorized exportation or re-exportation of financial services from the United States to Iran," in 2012 and 2013, US Treasury said in a statement on its website.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes