Amazon's sanctions-screening system allegedly failed to identify blacklisted customers, according to the U.S. Treasury Department
By Mengqi Sun Close Mengqi Sun July 8, 2020 7:48 pm ET Amazon.com Inc. agreed to settle allegations that it violated multiple U.S. sanctions regulations, the U.S. Treasury Department said Wednesday.
Newsletter Sign-up Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Amazon, which voluntarily disclosed the alleged violations and took remedial measures—factors that played a role in the settlement total, according to OFAC—had a similar issue.
In several hundred instances, Amazon’s system allegedly failed to flag the correctly spelled names and addresses of people and entities on the U.S. blacklist, according to the agreement.
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