Virginia Tech Firm Gets Warning Letters From BIS, OFAC
A Virginia-based technology company said it received warning letters from both the Bureau of Industry and Security and the Office of Foreign Assets Control after disclosing possible Russia-related sanctions violations to both agencies last year.
DXC Technology, a multinational information technology services and consulting firm, received a warning letter from BIS in January “in lieu of any penalties,” the company said in a May 17 SEC filing. The company said it received a similar “cautionary letter” from OFAC in March. Both agency reviews are now “closed,” DXC said.
The company said its disclosures involved its sale of Luxoft, a Russia-based software engineering firm DXC had bought in 2019 and later sold after Russia invaded Ukraine in 2022 (see 2403010056). DXC didn’t say how it may have violated U.S. sanctions or export controls, only that the possible violations were linked to the company’s “exit from the Russian market.”