By Jeff Dale2023-06-20T19:00:00
Swedbank Latvia agreed to pay more than $3.4 million to resolve apparent U.S. sanctions violations in the Crimea region of Ukraine, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced.
Swedbank announced the settlement Monday, which OFAC confirmed in a press release Tuesday. The bank self-disclosed the apparent violations in March 2020, though OFAC noted this was not voluntary. The agency concluded the violations were non-egregious, however, and levied a civil penalty in the case below the base applicable amount.
In March, Swedbank said it reserved 40 million Swedish krona (U.S. $3.7 million) for a settlement regarding the matter.
2024-03-04T11:28:00Z By Kyle Brasseur
The Estonian branch of Swedbank is no longer under investigation regarding suspected money laundering and other criminal activities.
2023-12-13T21:35:00Z By Aaron Nicodemus
Virtual currency exchange CoinList Markets agreed to pay more than $1.2 million to settle allegations from the Office of Foreign Assets Control that it violated U.S. sanctions by processing transactions for customers located in the Crimea region of Ukraine.
2023-11-06T20:25:00Z By Kyle Brasseur
DaVinci Payments, a financial services firm which manages prepaid reward card programs, agreed to pay approximately $206,000 as part of a settlement with the Office of Foreign Assets Control addressing alleged sanctions violations across four countries.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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