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.
2025-08-25T20:49:00Z By Adrianne Appel
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
2025-08-25T18:24:00Z By Adrianne Appel
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
2025-08-25T15:51:00Z By Adrianne Appel
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
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