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Violation Tracker Individual Record

Company: Bank Leumi
Current Parent Company: Bank Leumi
Penalty: $130,000,000
Year: 2014
Date: December 22, 2014
Offense Group: financial offenses
Primary Offense: tax violations
Mega-Scandal: Assisting Tax Evasion
Violation Description: Bank Leumi agreed to pay $130 million to the New York State Department of Financial Services, move to terminate and ban individual senior employees who engaged in misconduct, and admit its violations of law for conducting an illegal cross-border scheme to assist U.S. clients in evading federal and state taxes. The bank also resolved a related criminal case brought by the U.S. Justice Department; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: Israel
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
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.