31 CFR 542.701 - Penalties.

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§ 542.701 Penalties.
(a) Attention is directed to section 206 of the International Emergency Economic Powers Act (the “Act”) (50 U.S.C. 1705), which is applicable to violations of the provisions of any license, ruling, regulation, order, direction, or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under the Act.
(1) A civil penalty not to exceed the amount set forth in Section 206 of the Act may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under the Act.
Note to paragraph (a)(1) of § 542.701:
As of June 10, 2008, the Act provides for a maximum civil penalty not to exceed the greater of $250,000 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(2) A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.
(b) Adjustments to penalty amounts.
(1) The civil penalties provided in the Act are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2) The criminal penalties provided in the Act are subject to adjustment pursuant to 18 U.S.C. 3571.
(c) Attention is also directed to 18 U.S.C. 1001, which provides that whoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully falsifies, conceals, or covers up by any trick, scheme, or device, a material fact, or makes any materially false, fictitious, or fraudulent statement or representation, or makes or uses any false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry shall be fined under title 18, United States Code, or imprisoned not more than five years, or both.
(d) Violations of this part may also be subject to relevant provisions of other applicable laws.
[70 FR 17203, Apr. 5, 2005, as amended at 71 FR 29253, May 22, 2006; 73 FR 32653, June 10, 2008]

Title 31 published on 2013-07-01

The following are only the Rules published in the Federal Register after the published date of Title 31.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-05-02; vol. 79 # 85 - Friday, May 2, 2014
    1. 79 FR 25414 - Syrian Sanctions Regulations
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of Foreign Assets Control
      Final rule.
      Effective Date: May 2, 2014.
      31 CFR Part 542

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Executive Order ... 13338

Title 31 published on 2013-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR 542 after this date.

  • 2014-05-02; vol. 79 # 85 - Friday, May 2, 2014
    1. 79 FR 25414 - Syrian Sanctions Regulations
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of Foreign Assets Control
      Final rule.
      Effective Date: May 2, 2014.
      31 CFR Part 542