U.S. Treasury and Microsoft Reach Sanctions Settlement
On Thursday, the U.S. Treasury Department announced it had reached a settlement with Microsoft Corp (NASDAQ: MSFT) over the technology company's apparent sanctions violations.
Microsoft to Pay $3 Million for Over 1,300 Violations
Microsoft has agreed to pay around $3 million to settle its potential civil liability for more than 1,300 apparent sanctions violations. According to the Treasury Department's statement, these violations involved restrictions on Cuba, Iran, Syria, and Russia related to the exportation of services or software from the U.S. to sanctioned jurisdictions.
Treasury Department Labels Microsoft's Conduct "Non-Egregious"
The Treasury Department emphasized that Microsoft's conduct was deemed "non-egregious and voluntarily self-disclosed."