Deutsche Borse AG will pay $151.9 million to resolve an investigation by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), according to a press release the German exchange issued Thursday. The penalty is the largest ever assessed by OFAC independent of other regulators and law enforcement agencies. In August 2011, JPMorgan Chase paid OFAC $88 million to settle violations. OFAC's investigation involved activity in an omnibus account maintained in the United States by Deutsche Borse's Clearstream subsidiary in 2008. The activity related to the decision taken by Clearstream in 2007 to close its Iranian customers' accounts and certain...
Bank of America, N.A. will pay a $16.5 million penalty for failing to freeze assets and reject transactions linked to sanctioned global drug traffickers, the U.S. Treasury Department said Wednesday.
The U.S. Treasury Department's record fine last month against a subsidiary of Deutsche Börse did more than just signal that Americans would continue to take a tough tack against Iranian sanctions dodgers. It outlined new regulatory expectations, say consultants.
The financial clearing subsidiary of Deutsche Börse AG will pay the U.S. Treasury Department's sanctions enforcer $152 million for holding money in New York-based accounts on behalf of Iran's central bank.
U.S. authorities are investigating Cantor Gaming, an affiliate of Cantor Fitzgerald, former U.S. Congressman Rick Renzi was sentenced to 36 months in prison, a Vancouver ATM allows users to exchange bitcoins for cash, and more, in the midweek roundup.
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