PayPal, the electronic payments firm, agreed to pay $7.7 million to settle charges by the U.S. Treasury Department that it violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Treasury said on Wednesday. PayPal, owned by EBay Inc , did not adequately screen its transactions for U.S. sanctions targets for several years through 2013, resulting in 486 apparent violations of U.S. law, Treasury said in a statement. PayPal also dismissed alerts and processed about $7,000 worth of payments for Kursud Zafer Cire, a Turkish national on the sanctions blacklist tied to proliferators of weapons of mass destruction, according to the statement.
via Tech News Headlines - Yahoo News http://ift.tt/1btVZ0R
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