Por Kanishka Singh
BANGALORE, India (Reuters) – The U.S. Treasury Department said Monday it had reached an agreement with Airbnb in a case in which Airbnb was accused of violating Washington’s sanctions against Cuba.
“Airbnb Payments agreed to pay $ 91,172.29, which is managed by the Treasury Department’s Foreign Assets Control Office (OFAC), in clear violation of sanctions against Cuba,” the department said in a statement.
The Department of the Treasury said the violations included making payments to guests traveling for reasons outside of the approved categories and failing to maintain certain required records related to Cuban-related transactions.
Airbnb began operations in Cuba in 2015 and the expansion of the company’s services on the island has “surpassed the company’s ability to manage related licensing risks,” the Treasury Department said. The United States has imposed restrictions on trade with Cuba since the 1960s.
“We take compliance with the sanctions very seriously. We are pleased to have reached this agreement with OFAC,” an Airbnb spokesman said in a statement.
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