OFAC fines World Class Technologies for Iran sanctions violations

World Class Technology Corporation (WCT), a US manufacturer of metal components, has agreed to pay $43,200 to settle its civil liability for violating US sanctions by allegedly exporting 7 shipments of orthodontic devices to Germany, the UAE, and Lebanon with knowledge or reason to know that they were intended for reexportation to Iran. OFAC determined that although WCT’s management knew...