- American Honda Finance Corporation pays for alleged violations of U.S. sanctions on Cuba
- Violation committed by American Honda's subsidiary in Canada
- Penalty underscores breadth of U.S. jurisdiction, importance of compliance reviews
On June 8, the Office of Foreign Assets Control (OFAC) announced a monetary penalty against American Honda Finance Corporation (American Honda) for alleged violations of the Cuban Assets Control Regulations (CACR), the primary regulations by which the United States imposes economic sanctions on Cuba. A copy of the OFAC press release announcing the penalty is available here.
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