# 31 CFR § 510.701: Penalties > Federal · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/ecfr-31-510.701 ## Section - **Citation:** 31 CFR § 510.701 - **Heading:** Penalties - **Jurisdiction:** Federal - **Kind:** Regulations - **Status:** In force - **Text as of:** September 22, 2026 - **Source:** Publisher's official text - **Location:** Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY > PART 510—NORTH KOREA SANCTIONS REGULATIONS > Subpart G—Penalties and Finding of Violation ## Text (a) Section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) (IEEPA) is applicable to violations of the provisions of any license, ruling, regulation, order, directive, or instruction issued by or pursuant to the direction or authorization of the Secretary of the Treasury pursuant to this part or otherwise under IEEPA. (1) A civil penalty not to exceed the amount set forth in section 206 of IEEPA 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 issued under IEEPA. (2) IEEPA provides for a maximum civil penalty not to exceed 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. (3) A person who willfully commits, willfully attempts to commit, willfully conspires to commit, or aids or abets in the commission of a violation of any license, order, regulation, or prohibition may, 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. (b)(1) 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). (2) The criminal penalties provided in IEEPA are subject to adjustment pursuant to 18 U.S.C. 3571. (c) Pursuant to 18 U.S.C. 1001, 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. (d) Section 5 of the United Nations Participation Act, as amended (22 U.S.C. 287c(b)) (UNPA), provides that any person who willfully violates or evades or attempts to violate or evade any order, rule, or regulation issued by the President pursuant to the authority granted in that section, upon conviction, shall be fined not more than $10,000 and, if a natural person, may also be imprisoned for not more than 10 years; and the officer, director, or agent of any corporation who knowingly participates in such violation or evasion shall be punished by a like fine, imprisonment, or both and any property, funds, securities, papers, or other articles or documents, or any vessel, together with her tackle, apparel, furniture, and equipment, or vehicle, or aircraft, concerned in such violation shall be forfeited to the United States. (e) Violations involving transactions described at section 203(b)(1), (3), and (4) of IEEPA shall be subject only to the penalties set forth in paragraph (d) of this section. (f) Violations of this part may also be subject to other applicable laws. [83 FR 9187, Mar. 5, 2018, as amended at 84 FR 27716, June 14, 2019; 85 FR 19886, Apr. 9, 2020; 86 FR 14536, Mar. 17, 2021; 87 FR 7371, Feb. 9, 2022; 88 FR 2231, Jan. 13, 2023; 89 FR 2141, Jan. 12, 2024; 90 FR 3690, Jan. 15, 2025] ## Nearby sections - [31 CFR § 510.101 § 510.101 Relation of this part to other laws and regulations.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.101.md) - [31 CFR § 510.201 § 510.201 Prohibited transactions involving blocked property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.201.md) - [31 CFR § 510.202 § 510.202 Effect of transfers violating the provisions of this part.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.202.md) - [31 CFR § 510.203 § 510.203 Holding of funds in interest-bearing accounts; investment and reinvestment.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.203.md) - [31 CFR § 510.204 § 510.204 Expenses of maintaining blocked physical property; liquidation of blocked property.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.204.md) - [31 CFR § 510.205 § 510.205 Prohibited importation of goods, services, or technology from North Korea.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.205.md) - [31 CFR § 510.206 § 510.206 Prohibited exportation or reexportation of goods, services, or technology to North Korea.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.206.md) - [31 CFR § 510.207 § 510.207 Prohibited vessel transactions related to North Korean registration and flagging.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.207.md) - [31 CFR § 510.208 § 510.208 Prohibited aircraft landing or vessel calling in the United States.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.208.md) - [31 CFR § 510.209 § 510.209 Prohibited new investment in North Korea.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.209.md) - [31 CFR § 510.210 § 510.210 Prohibitions or strict conditions with respect to correspondent or payable-through accounts or blocking of certain foreign financial institutions identified by the Secretary of the Treasury.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.210.md) - [31 CFR § 510.211 § 510.211 Prohibited facilitation.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.211.md) - [31 CFR § 510.212 § 510.212 Evasions; attempts; causing violations; conspiracies.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.212.md) - [31 CFR § 510.213 § 510.213 Exempt transactions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-510.213.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-31-510.701. Check the current official text before relying on it. Not legal advice.