The Nikkei Asian Review said on 22nd November that US prosecutors have been investigating Japan’s Mitsubishi UFJ Financial Group Inc since late last year on suspicion of breaking AML regulations involving North Korea, the New York Times has reported. In 2013, MUFG’s banking unit was fined $250 million for removing information from its records about transactions that involved parties in states like Iran and Myanmar, and a year later an additional $315 million for trying to hide information about that misconduct.
https://asia.nikkei.com/Business/Companies/US-prosecutors-investigate-MUFG-for-lax-sanctions-safeguards-report
https://www.japantimes.co.jp/news/2018/11/22/business/u-s-probing-japans-mufg-alleged-violation-rules-north-korea-money-laundering-nyt/#.W_ZHhvZ2t9A
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Author: raytodd2017
Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section
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