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Company: Commerzbank AG
Current Parent Company:
Commerzbank
Parent at the Time of the Penalty Announcement:
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Penalty: $642,000,000
Year: 2015
Date: March 12, 2015
Offense Group: financial offenses
Primary Offense: economic sanction violation
Mega-Scandal:
Sanctions Violations
Violation Description: Commerzbank AG and Commerzbank AG New York Branch agreed to forfeit $563 million, pay a $79 million fine and enter into a deferred prosecution agreement with the Justice Department for violations of the International Emergency Economic Powers Act and the Bank Secrecy Act.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: Germany
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.
