U.S Agrees With Airbnb on Settlement for Violating Sanctions on Cuba

The United States treasury department says that it has reached an agreement with online marketplace for vacations rentals Airbnb Inc. (ABNB) on settlements linked to the company violating sanctions imposed by the U.S on Cuba.

Citing a notice released by the treasury department, Airbnb had agreed to part with $91,172.29 as settlement for the potential civil liability for violating United States sanctions on Cuba.

Airbnb Payments agreed to remit $91,172.29 to settle its potential civil liability for apparent violations of sanctions against Cuba administered by the Treasury Department’s Office of Foreign Assets Control (OFAC),” said the treasury department in the notice.

The treasury department says the violations in question include payment related to guests  traveling for reasons outside of OFAC’s authorized categories and also failing to keep certain required records associated with Cuba-related transactions.

Airbnb Payments’ apparent violations were voluntarily self-disclosed and were non-egregious,” said the department.

On the receiving end, Airbnb says it takes sanctions very seriously and very pleased to have reached an agreement with OFAC on the matter.

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