Federal Contractor Misconduct Database (FCMD)
Violations of the Cuban Assets Control Regulations
Philips Electronics of North America paid $128,750 to settle allegations of violating the Cuban Assets Control Regulations between June 2004 and March 2006. The Office of Foreign Assets Control (OFAC) alleged that Philips acted without an OFAC license through an employee’s travel to Cuba in connection with the sale of medical equipment.
- Misconduct Type
- Enforcement Agency
- Contracting Party
- Court Type
- Date of Fine Announcement