SAP to Pay $8 Million Penalty for Exporting Software to Iran While Under Sanction
April 29 2021 - 3:56PM
Dow Jones News
By Adriano Marchese
German software company SAP SE will pay $8 million in combined
penalties for violating sanction regulations on Iran after
admitting to thousands of illegal exports of its software products
to the country.
The U.S. Justice Department said Thursday that SAP will pay the
combined penalties as part of a global resolution with the
departments of Justice, Commerce and Treasury.
SAP acknowledged violations of the Export Administration
Regulations and the Iranian Transactions and Sanctions Regulations,
and as a result, has entered into a non-prosecution agreement with
the U.S. Attorney's Office for the District of Massachusetts.
As part of the agreement, the company will forego $5.1 million
of "ill-gotten" gains.
"SAP will suffer the penalties for its violations of the Iran
sanctions, but these would have been far worse had they not
disclosed, cooperated, and remediated," Assistant Attorney General
John Demers for the National Security Division said.
The department said that this was the first-ever voluntary
self-disclosure of export violations.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 29, 2021 15:41 ET (19:41 GMT)
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