JPMorgan paying $88.3M over violations of Weapons of Mass Destruction Proliferators & Global Terrorism Sanctions RegulatQuicklink submitted by Cactus Pat Permalink
|JPMorgan Chase Bank is paying $88.3 million in an agreement with the Treasury Department, which says the bank violated regulations that prohibit lending money for entities linked to countries engaged in illicit nuclear trade and that cover dealings with Cuba and Sudan... largest penalty paid in a settlement by a U.S. bank in the Treasury's Office of Foreign Assets Control 60-year history. OFAC said the rules involved were the Cuban Assets Control Regulations, the Weapons of Mass Destruction Proliferators Sanctions Regulations, the Global Terrorism Sanctions Regulations, the Iranian Transactions Regulations...|
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