eBay's (EBAY) PayPal, Treasury Dept. Enter Settlement Over Trade Sanctions Violations

eBay's (Nasdaq: EBAY) PayPal and the U.S. Treasury Department announced on Wednesday that the two sides have entered a settlement agreement over allegations that the payment provider violated trade sanctions.

The WSJ noted that allegations include a black market for nuclear weapons trade and processing thousands of dollars in payments for transactions involving goods from Cuba, Iran, and Sudan. In total, the 500 PayPal transactions amounted to $44,000.

PayPal agreed to pay $7.7 million in the settlement and won't admit or deny the allegations.

The Treasury document is embedded below:

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