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NY DFS gets $405 million from UniCredit

DFS FINES UNICREDIT GROUP $405 MILLION FOR VIOLATIONS OF SANCTIONS LAWS Bank and Its Affiliates Conducted Billions of Dollars in Illegal and Non-Transparent Payment Transactions to Countries Subject to Embargoes and Other Sanctions, Including Iran, Libya, Myanmar and Sudan DFS Fine Part of $1.3 Billion Global Settlement Concluded with Manhattan […]

OFAC Enforcement Action: Societe Generale settles for almost $54 million (& pays NY DFS much more)

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Société Générale S.A. 11/19/2018 The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $53,966,916.05 settlement with Société Générale S.A. to settle potential civil liability for apparent violations of U.S. sanctions.  […]

BTMU fined – again – by NY DFS

This fine of $315 million is on top of the $250 million previously agreed to, and is a result of BTMU (Bank Tokyo-Mitsubishi UFJ Group) pressuring Price Waterhouse Coopers (PwC) to remove elements from its prior attestation to NY State that would have cast a dimmer view on its behavior. […]