Violation Tracker Individual Record

Company: 
UniCredit Group
Current Parent Company: 
UniCredit
Penalty: 
$405,000,000
Year: 
2019
Date: 
April 15, 2019
Offense Group: 
financial offenses
Primary Offense: 
economic sanction violation
Violation Description: 

The New York Department of Financial Services fined UniCredit Group $405 million for violations of sanctions laws that involved billions of dollars in illegal and non-transparent transactions to clients in countries subject to sanctions, including Cuba, Iran, Libya, Myanmar and Sudan. This was part of the resolution of multiple charges against multiple UniCredit Group companies by multiple agencies, including the U.S. Justice Department, the U.S. Treasury Department, the Federal Reserve and the Manhattan District Attorney's Office. The total criminal and regulatory penalties were listed as $1.3 billion.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
Italy
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.