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Australian freight forwarder’s rapid growth led to increased sanctions risks, settlement shows

By Samuel Rubenfeld ( April 25, 2022, 20:42 GMT | Insight) -- Australia-based Toll Holdings Ltd. embarked on a strategy of acquisition in 2007, buying small local or regional freight forwarding companies, but its compliance program, personnel and associated controls failed to keep up with the pace and complexity of the operations, according to the Treasury Department’s Office of Foreign Assets Control.Toll Holdings Ltd., an Australia-based freight forwarding and logistics firm, grew quickly and failed to address its growing sanctions risk, according to a settlement announced today by the US Treasury Department....

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