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
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 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.