According to Digital Marketing Agency, PayPal has agreed to disagree in
5.1m payout to the US government for allowing illegal payments that violated
sanctions against Iran, Cuba and Sudan. According to The US Treasury
Department, “ the payment firm had failed
to adequately screen and prevent transactions through 7,000 transactions from
someone listed by the US government as being involved in the proliferation of
weapons of mass destruction.
PayPal had already
approved the scanning time payments. PayPal stated in the statement, “our
company had reported the actual payment we had own between 2009 and 2013 to the
Treasury's Office of Foreign Assets Control (Ofac).”
PayPal representative
told the BBC, “We have taken further actions and step to obey Ofac regulations with the introduction of real-time
scanning of payments and improved processes.”
However, Paypal is neither admits nor denies that it had violated the
sanctions.
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