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Violation Tracker Individual Record

Company: Mashreqbank PSC
Penalty: $40,000,000
Year: 2018
Date: October 10, 2018
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Mega-Scandal: Anti-Money Laundering Deficiencies
Violation Description: The Department of Financial Services fined United Arab Emirates-based Mashreqbank PSC and its New York branch $40 million for violations of U.S. Bank Secrecy Act and Anti-Money Laundering laws in the New York branch's U.S. dollar clearing operations.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
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.