PayPal to pay $7.7M in sanctions violations settlement
WASHINGTON (AP) — PayPal Inc. has agreed to pay $7.7 million in a settlement with U.S. regulators, who say the payments company allowed violations of U.S. sanctions against countries including Iran. The Office of Foreign Assets Control, an agency of the Treasury Department, announced Wednesday the civil settlement with the digital payments processor. The agency said PayPal, a division of eBay Inc., didn't adequately screen transactions so it could detect those by people or entities subject to sanctions against Iran, Cuba and Sudan. OFAC ...
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