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OFAC didn’t want $$$ from Mashreqbank, but…

ACTING SUPERINTENDENT ADRIENNE A. HARRIS ANNOUNCES $100 MILLION PENALTY ON MASHREQBANK FOR VIOLATIONS OF SANCTIONS LAWS  Acting Superintendent of Financial Services Adrienne A. Harris announced today that Mashreqbank, PSC (“Mashreqbank” or the “Bank”) has agreed to pay $100 million in penalties pursuant to a Consent Order entered into with the New York State Department of Financial Services (“DFS” or […]

NY DFS Enforcement Action: Deutsche Bank

SUPERINTENDENT LACEWELL ANNOUNCES DFS IMPOSES $150 MILLION PENALTY ON DEUTSCHE BANK IN CONNECTION WITH BANK’S RELATIONSHIP WITH JEFFREY EPSTEIN AND CORRESPONDENT RELATIONSHIPS WITH DANSKE ESTONIA AND FBME BANK   First Enforcement Action by a Regulator Against a Financial Institution for Dealings with Jeffrey Epstein  Superintendent of Financial Services Linda A. Lacewell […]

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.  […]