New York regulator hits Bank of Tokyo with $315m fine
Further penalty imposed for watered-down report
The New York Department of Financial Services (DFS) has fined the Bank of Tokyo Mitsubishi-UFJ (BTMU) an additional $315 million for misleading regulators about illicit transactions with Iran, Sudan and other sanctioned entities – on top of a $250 million penalty it imposed in June 2013 for the transactions themselves.
The bank was also ordered to take disciplinary action against three of its compliance staff and move its sanctions compliance and anti-money laundering operations to New York.
In
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