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Violation Tracker Individual Record

Company: ING Bank N.V.
Current Parent Company: ING
Penalty: $619,000,000
Year: 2012
Date: June 12, 2012
Offense Group: financial offenses
Primary Offense: economic sanction violation
Mega-Scandal: Sanctions Violations
Violation Description: The U.S. Department of the Treasury's Office of Foreign Assets Control announced a $619 million settlement with ING Bank N.V. to settle potential liability for apparent violations of U.S. sanctions.
Level of Government: federal
Action Type: agency action
Agency: Office of Foreign Assets Control
Civil or Criminal Case: civil
HQ Country of Current Parent: Netherlands
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Notes: Note: This penalty is a duplicate of an amount shown in another record (either because it applies to a multi-location settlement or because Violation Tracker contains an agency record and a settlement announcement for the same case).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.