Violation Tracker Individual Record

Company: 
Israel Discount Bank of New York
Current Parent Company: 
Israel Discount Bank
Penalty: 
$8,500,000
Year: 
2005
Date: 
December 16, 2005
Offense Group: 
financial offenses
Primary Offense: 
anti-money-laundering deficiencies
Violation Description: 

Israel Discount Bank of New York agreed to pay a total of $8.5 million to the City and State of New York in settlement of allegations it failed to monitor customers, thus enabling them to illegally move funds into New York.

Level of Government: 
local
Action Type: 
agency action
Agency: 
Manhattan (NY) District Attorney
Civil or Criminal Case: 
civil
Private Lawsuit Resolution Type: 
settlement
Facility State: 
New York
Facility County: 
New York
Facility City: 
New York
HQ Country of Parent: 
Israel
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.