§ 544.701. Penalties.
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/us/cfr/t31/s§ 544.701·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Attention is directed to section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) ("IEEPA"), which is applicable to violations of the provisions of any license, ruling, regulation, order, directive, or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under IEEPA.
(1)A civil penalty not to exceed the amount set forth in section 206 of IEEPA may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition issued under IEEPA.
(2)The applicable maximum civil penalty per violation of IEEPA is the greater of \$377,700 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
(3)A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition may, upon conviction, be fined not more than \$1,000,000, or if a natural person, be imprisoned for not more than 20 years, or both.
(b)Adjustments to penalty amounts.
(1)The civil penalties provided in IEEPA are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
(2)The criminal penalties provided in IEEPA are subject to adjustment pursuant to 18 U.S.C. 3571.
(c)Attention is also directed to 18 U.S.C. 1001, which provides that whoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully falsifies, conceals, or covers up by any trick, scheme, or device a material fact; makes any materially false, fictitious, or fraudulent statement or representation; or makes or uses any false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry; shall be fined under title 18, United States Code, imprisoned not more than five years, or both.
(d)Violations of this part may also be subject to relevant provisions of other applicable laws. \[74 FR 16773, Apr. 13, 2009, as amended at 81 FR 43075, July 1, 2016; 82 FR 10437, Feb. 10, 2017; 83 FR 11879, Mar. 19, 2018; 84 FR 27717, June 14, 2019; 85 FR 19887, Apr. 9, 2020; 86 FR 14537, Mar. 17, 2021; 87 FR 7372, Feb. 9, 2022; 88 FR 2232, Jan. 13, 2023; 89 FR 2142, Jan. 12, 2024; 90 FR 3691, Jan. 15, 2025\]
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- Pub. L. 101-410
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