The U.S. Department of the Treasury said Monday it reached a settlement agreement with a unit of home rental firm Airbnb Inc for violations of sanctions against Cuba.
“Airbnb Payments agreed to remit $ 91,172.29 to settle its potential civil liability for apparent violations of the sanctions against Cuba administered by the Office of Foreign Assets Control (OFAC) of the Treasury Department,” the department said. .
The apparent violations included payments related to guests traveling for reasons beyond the categories authorized by OFAC, as well as failure to maintain certain required records associated with transactions related to Cuba, the Treasury Department said.
The apparent violations by Airbnb Payments were voluntarily self-reported and not serious, the department added.
Airbnb launched its business in Cuba in 2015 and the increase in its services on the island appeared “to have exceeded the company’s ability to manage the risks of associated sanctions,” according to the Treasury Department.
The United States has imposed restrictions on trade with Cuba since the 1960s, the oldest economic sanctions program in the United States. Airbnb did not immediately respond to a request for comment on Monday.
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