U.S. Software Company Discloses Potential Sanctions Violations

November 12, 2019

Author: 

Mengqi Sun

Publication: 

The Wall Street Journal

Related Country: 

  • Greece
  • Poland

Michigan-based software engineering company Altair Engineering Inc. admitted to possible U.S. sanctions and export control violations in a regulatory filing. In May, the company discovered that a third-party consultant in Poland may have provided software developed by its Greek subsidiary to a subcontractor in Iran. After an internal investigation, Altair Engineering disclosed the findings in July to the Treasury Department's Office of Foreign Assets Control (OFAC) and to the Commerce Department's Bureau of Industry and Security (BIS).