§566.701. Penalties.
31 C.F.R. § 566.701
Civil penalties. As set forth in section 102(a)(3) of the Hizballah International Financing Prevention Act of 2015 (Pub. L. 114-102, 129 Stat. 2205 (50 U.S.C. 1701 note)), a civil penalty not to exceed the amount set forth in section 206(b) of the International Emergency Economic Powers Act (IEEPA) (50 U.S.C. 1705(b)) may be imposed on any person who violates, attempts to violate, conspires to violate, or causes a violation of any license, order, regulation, or prohibition set forth in or issued pursuant to this part.
The applicable maximum civil penalty per violation of IEEPA is the greater of $377,700 or an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.
Criminal penalties. As set forth in section 102(a)(3) of HIFPA, a person who willfully commits, willfully attempts to commit, or willfully conspires to commit a violation of any license, order, regulation, or prohibition set forth in or issued pursuant to this part shall, upon conviction, be fined not more than $1,000,000, or if a natural person, be imprisoned for not more than 20 years, or both.
Adjustments to penalty amounts.
The civil penalties provided in IEEPA are subject to adjustment pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990 (Pub. L. 101-410, as amended, 28 U.S.C. 2461 note).
The criminal penalties provided in IEEPA are subject to adjustment pursuant to 18 U.S.C. 3571.
Attention is also directed to 18 U.S.C. 1001, which provides that “whoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully falsifies, conceals, or covers up by any trick, scheme, or device a material fact; or makes any materially false, fictitious, or fraudulent statement or representation; or makes or uses any false writing or document knowing the same to contain any materially false, fictitious, or fraudulent statement or entry” shall be fined under title 18, United States Code, imprisoned, or both.
Violations of this part may also be subject to other applicable laws.
Notes, amendments, and revision history
Amendments
[81 FR 22186, Apr. 15, 2016, as amended at 81 FR 43076, July 1, 2016; 82 FR 10438, Feb. 10, 2017; 83 FR 11880, Mar. 19, 2018; 84 FR 27718, June 14, 2019; 85 FR 19888, Apr. 9, 2020; 86 FR 14538, Mar. 17, 2021; 87 FR 7373, Feb. 9, 2022; 88 FR 2233, Jan. 13, 2023; 89 FR 2143, Jan. 12, 2024; 90 FR 3692, Jan. 15, 2025]
Authority
Authority: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); Pub. L. 114-102, 129 Stat. 2205 (50 U.S.C. 1701 note); Pub. L. 115-272, 132 Stat. 4144 (50 U.S.C. 1701 note).
Source
Source: 81 FR 22186, Apr. 15, 2016, unless otherwise noted.
Amendments
[81 FR 22186, Apr. 15, 2016, as amended at 81 FR 43076, July 1, 2016; 82 FR 10438, Feb. 10, 2017; 83 FR 11880, Mar. 19, 2018; 84 FR 27718, June 14, 2019; 85 FR 19888, Apr. 9, 2020; 86 FR 14538, Mar. 17, 2021; 87 FR 7373, Feb. 9, 2022; 88 FR 2233, Jan. 13, 2023; 89 FR 2143, Jan. 12, 2024; 90 FR 3692, Jan. 15, 2025]