UniCredit Group Banks to pay $1.3B for sanctions violations
By 
Jaclyn Jaeger2019-04-17T20:03:00
UniCredit Group Banks will pay total financial penalties of approximately $1.3 billion for processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions, the Department ...
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleFormer telemedicine company owner gets 7 years for role in $136M kickback scheme
A former co-owner of two telemedicine companies who helped orchestrate $136 million in Medicare fraud was sentenced to seven years in prison for his role in the nationwide bribery and kickback scheme involving orthotic braces, doctors, and false claims.
-
ArticleIf financial services firms don’t want more AI rules, comply with existing regs, experts warn
The U.K.’s financial regulators have long maintained that AI use by banks, insurers, and other financial services firms is already regulated under existing rules, but such assurances are increasingly being questioned.
-
ArticleEuropean regulators fine banks for compliance failures and warn more investigations will follow
Crédit Agricole and J.P. Morgan were among financial institutions that found themselves in the cross-hairs of the European Central Bank for faulty risk assessments and risk reporting and failing to protect consumers from fraud risks. All of those companies fined also missed compliance deadlines.
More from Sanctions
-
News BriefInteractive Brokers to pay $11.8M to settle thousands of U.S. sanction violations
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
-
News BriefOFAC fines Harman Industries $1.4M for violating U.S. sanctions on Iran
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
-
News BriefOFAC fines logistics company Key Holding $609k for violating U.S. sanctions on Cuba
A Delaware logistics company paid a $608,825 fine for violating U.S. sanctions on Cuba, a breach that the company self-disclosed to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).