31 CFR 549.701 - Penalties.

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§ 549.701 Penalties.

(a) Attention is directed to section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705) (“IEEPA”), which is applicable to violations of the provisions of any license, ruling, regulation, order, directive, or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under IEEPA.

(1) A civil penalty not to exceed the amount set forth in section 206 of IEEPA 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 IEEPA.

Note to paragraph (a)(1):

As of January 15, 2017, the applicable maximum civil penalty per violation of IEEPA is the greater of $289,238 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 may, upon conviction, be fined not more than $1,000,000, or if a natural person, be imprisoned for not more than 20 years, or both.

(b)Adjustments to penalty amounts.

(1) The civil penalties provided in IEEPA 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 IEEPA 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:

(1) Falsifies, conceals, or covers up by any trick, scheme, or device a material fact;

(2) Makes any materially false, fictitious, or fraudulent statement or representation; or

(3) 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, imprisoned, or both.

(d) Violations of this part may also be subject to relevant provisions of other applicable laws.

[ 75 FR 44909, July 30, 2010, as amended at 81 FR 43075, July 1, 2016; 82 FR 10438, Feb. 10, 2017]

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code
Presidential Documents

Executive Order ... 13441

Title 31 published on 06-Feb-2018 03:53

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR Part 549 after this date.

  • 2017-02-10; vol. 82 # 27 - Friday, February 10, 2017
    1. 82 FR 10434 - Inflation Adjustment of Civil Monetary Penalties
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Financial Crimes Enforcement Network, Office of Foreign Assets Control
      Final rule.
      Effective February 10, 2017.
      31 CFR Part 50