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Deutsche Bank settles OFAC violations
Posted: Sep 18, 2020 | Author:
compliance
OFAC has announced two settlements totaling $583,100 with Deutsche Bank Trust Company Americas regarding apparent violations of the Ukraine-Related Sanctions Regulations. OFAC determined that neither case was voluntarily self-disclosed to OFAC, but the apparent violations constitute non-egregious cases, and the bank cooperated during the investigation and made immediate corrections to its procedures to prevent future violations of the types cited. The maximum civil penalty amount for the apparent violations was over $75.7 million.
Source: OFAC
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