Washington, Mar 26, (RHC), -- PayPal has agreed to pay $7.7 million in a settlement with U.S. regulators, who say the payments company allowed violations of U.S. sanctions against countries including Cuba.

The Office of Foreign Assets Control, an agency of the Treasury Department, announced Wednesday the civil settlement with the digital payments processor.

The agency said PayPal, a division of San Jose-based eBay, didn't adequately screen transactions so it could detect those by people or entities subject to sanctions against Iran, Cuba and Sudan. OFAC says the lapses occurred over several years through 2013.

PayPal says in a statement that it voluntarily reported to the agency questionable payments it had processed.

PayPal is the latest company to fall victim of US economic sanctions on third countries, which have seen several big international enterprises, like BNP Paribas and Commerzbank paying million dollar settlements to the US government.