If an individual covered by this part commits fraud, makes a false statement or misrepresentation, or omits a material fact when submitting any information required under this part, the individual may be—

1. (a) Subject to fine or imprisonment or both under Federal law, including, but not limited to, 18 U.S.C. 1001 and 49 U.S.C. 46301;
2. (b) Denied a security threat assessment under this chapter; and/or
3. (c) Subject to other enforcement or administrative action, as appropriate, including, but not limited to, proceedings under § 1540.103 of this subchapter.