Credit Suisse agrees $536 million sanctions OFAC settlement


WASHINGTON, DC – The US Treasury’s Office of Foreign Assets Control (OFAC) has announced a record $536 million settlement with Credit Suisse, after the Swiss bank violated OFAC’s rules in what the regulator called “egregious sanctions violations”. The joint resolution between the US Department of Justice and the New York County District Attorney’s Office is the largest in OFAC’s history.

Regulators said Credit Suisse had structured thousands of wire transfers to ensure the involvement of sanctio