[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR501.701]



[Page 52-53]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 501_REPORTING, PROCEDURES AND PENALTIES REGULATIONS--Table of 

Contents

 

          Subpart D_Trading With the Enemy Act (TWEA) Penalties

 

Sec. 501.701  Penalties.



    (a) Attention is directed to section 16 of the TWEA, as adjusted 

pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 

(Pub. L. 101-410, as amended, 28 U.S.C. 2461 note), which provides that:

    (1) Persons who willfully violate any provision of TWEA or any 

license, rule, or regulation issued thereunder, and persons who 

willfully violate, neglect, or refuse to comply with any order of the 

President issued in compliance with the provisions of TWEA shall, upon 

conviction, be fined not more than $1,000,000 or, if an individual, be 

fined not more than $100,000 or imprisoned for not more than 10 years, 

or both; and an officer, director, or agent of any corporation who 

knowingly participates in such violation shall, upon conviction, be 

fined not more than $100,000 or imprisoned for not more than 10 years, 

or both.

    (2) Any property, funds, securities, papers, or other articles or 

documents, or any vessel, together with its tackle, apparel, furniture, 

and equipment, concerned in a violation of TWEA may upon conviction be 

forfeited to the United States Government.

    (3) The Secretary of the Treasury may impose a civil penalty of not 

more than $65,000 per violation on any person who violates any license, 

order, or regulation issued under TWEA.



    Note to paragraph (a)(3). The current $65,000 civil penalty cap may 

be adjusted for inflation pursuant to the Federal Civil Penalties 

Inflation Adjustment Act of 1990.



    (4) Any property, funds, securities, papers, or other articles or 

documents,



[[Page 53]]



or any vessel, together with its tackle, apparel, furniture, and 

equipment, that is the subject of a violation subject to a civil penalty 

issued pursuant to TWEA shall, at the discretion of the Secretary of the 

Treasury, be forfeited to the United States Government.

    (b) The criminal penalties provided in TWEA are subject to increase 

pursuant to 18 U.S.C. 3571 which, when read in conjunction with section 

16 of TWEA, provides that persons convicted of violating TWEA may be 

fined up to the greater of either $250,000 for individuals and 

$1,000,000 for organizations or twice the pecuniary gain or loss from 

the violation.

    (c) Attention is directed to 18 U.S.C. 1001, which provides that 

whoever, in any matter within the jurisdiction of any department or 

agency of the United States, knowingly and willfully falsifies, conceals 

or covers up by any trick, scheme, or device a material fact, or makes 

any false, fictitious or fraudulent statements or representations, or 

makes or uses any false writing or document knowing the same to contain 

any false, fictitious or fraudulent statement or entry, shall be fined 

under title 18, United States Code, or imprisoned not more than 5 years, 

or both.



[68 FR 53642, Sept. 11, 2003, as amended at 68 FR 61361, Oct. 28, 2003]