Raytheon penalised $8 million over ITAR violations

01 May 2013

Raytheon is to pay USD8 million in civil penalties to the US government as part of a settlement over violations of the US Arms Export Controls Act (AECA) and International Traffic in Arms Regulations (ITAR), the US Department of State announced on 30 April.

Half of the fine has been agreed to be suspended and used by the company for Department of State-approved training.

The agreement, which sees Raytheon neither admit nor deny the allegations, will also see an external Special Compliance Officer appointed to Raytheon for a minimum of two years to oversee and monitor Raytheon's AECA and ITAR compliance, enhance the incorporation of ITAR compliance into the company's business plans, and track and report on Raytheon's AECA and ITAR compliance to the company's board and the State Department.

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