TD Bank, N.A. agreed to pay approximately $105,000 as part of a settlement with the U.S. Treasury’s Office of Foreign Assets Control (OFAC) for “multiple sanctions compliance breakdowns” that contributed to more than 1,000 apparent violations of North Korean sanctions regulations.
The bank was further fined approximately $10,000 for 145 apparent violations of the Foreign Narcotics Kingpin Sanctions Regulations, OFAC announced Dec. 23. The agency said the total settlement amount of approximately $115,000 reflected its determination the apparent violations in both matters were voluntarily self-disclosed and non-egregious.
