AIG in OFAC settlement

The Treasury Department has announced that American International Group, Inc. (AIG) of New York, NY, an international insurance and financial services organization incorporated in Delaware and headquartered in New York, has agreed to remit $148,698 to settle its potential civil liability for 555 apparent violations of OFAC sanctions programs — the Iranian Transactions and Sanctions Regulations; the Weapons of Mass Destruction Proliferators Sanctions Regulations; the Sudanese Sanctions Regulations; and the Cuban Assets Control Regulations. OFAC determined that AIG voluntarily self-disclosed the Apparent Violations, and that the apparent violations constitute a non-egregious case. For more details see our Penalty page.