September 26 2017
Richemont North America, Inc., d.b.a. Cartier (“Richemont”), Settles Potential Civil Liability for Apparent Violations of the Foreign Narcotics Kingpin Sanctions Regulations: Richemont, a luxury goods company headquartered in New York, New York, has agreed to pay $334,800 to settle its potential civil liability for four apparent violations of the Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. part 598 (FNKSR). Between on or about October 5, 2010 and on or about April 21, 2011, Richemont appears to have violated § 589.203 of the FNKSR when it exported four shipments of jewelry to Shuen Wai Holding Limited in Hong Kong (“Shuen Wai”), an entity OFAC added to the List of Specially Designated Nationals and Blocked Persons (the “SDN List”) on November 13, 2008.