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Violation Tracker Individual Record

Company: The Bank of New York
Current Parent CompanyBank of New York Mellon
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Penalty: $38,000,000
Year: 2005
Date: November 8, 2005
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Mega-ScandalAnti-Money Laundering Deficiencies
Violation Description: The Bank of New York was offered a non-prosecution agreement and agreed to pay $38 million in penalties and victim compensation to resolve parallel criminal investigations conducted by the United States Attorneys' Offices for the Eastern and Southern Districts of New York relating to BNY's responsibility for crimes involving fraud and money laundering, as well as BNY's failure to comply with mandatory reporting obligations under the Bank Secrecy Act.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Eastern District of New York
Civil or Criminal Case: criminal
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.