Violation Tracker Individual Record

UniCredit Group
Current Parent Company: 
April 15, 2019
Offense Group: 
financial offenses
Primary Offense: 
economic sanction violation
Violation Description: 

UniCredit Bank AG, a financial institution headquartered in Munich, operating under the name HypoVereinsbank, and part of the UniCredit Group agreed to enter a guilty plea to charges of conspiring to violate the International Emergency Economic Powers Act and defrauding the United States by processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions. Unicredit Bank AG agreed to pay criminal forfeiture of $393,536,632 and $468,350,000 in criminal fines, though it received credit for the latter amount in connection with concurrent penalties paid to the Federal Reserve and the New York State Department of Financial Services. Another $316 million was paid to the New York County District Attorney's Office. The Justice Department also announced that UniCredit Bank Austria (BA), another financial institution in the UniCredit Group, agreed to forfeit $20 million and entered into a non-prosecution agreement to resolve an investigation into its violations of IEEPA. UniCredit SpA, the parent of both UCB AG and BA, agreed to ensure that UCB AG and BA's obligations are fulfilled.

Level of Government: 
Action Type: 
agency action
Justice Department Criminal Division
Civil or Criminal Case: 
Prosecution Agreement: 
plea and non-prosecution agreement
HQ Country of Parent: 
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.