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OFAC Fines Bank of Tokyo-Mitsubishi $8.6 Million for Sanctions Violations
By Brian Monroe
printThe U.S. Treasury Department's sanctions enforcement agency fined a Japanese bank nearly $8.6 million Wednesday for violating sanctions against Iran, Sudan, Myanmar, Cuba and weapons proliferators. Bank of Tokyo-Mitsubishi UFJ, Ltd. displayed "reckless disregard for U.S. sanctions" by omitting or removing information from interbank payment messages involving the nations, the Office of Foreign Assets Control (OFAC) said in a statement. The violations, which took place between April 2006 and March 2007, involved nearly $6 million sent via 97 transfers, the agency said. Although the bank's general manager of its Tokyo operations center "knew or had reason to know" of instructions...
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