July 01, 2022

Australian company to pay $6 million in connection to years-long sanctions case

North Korea sanctions violated thousands of times by Toll Holdings, Ltd., US Treasury says

An Australian freight forwarding company has agreed to pay the U.S. government over $6 million to settle thousands of violations of American sanctions against North Korea, the U.S. Department of the Treasury said in a statement on Monday.

According to the statement, Toll Holdings Ltd. (Toll), a Melbourne-based logistics company, agreed to the $6,131,855 settlement after the Office of Foreign Assets Control (OFAC) determined it had likely committed “2,958 payments in connection with sea, air and rail shipments” that involved North Korea, Iran or Syria.