Deutsche Bank To Pay $583K To End Ukraine Sanctions Probe

Law360 (September 9, 2020, 7:55 PM EDT) -- Deutsche Bank Trust Co. America agreed Wednesday to pay $583,100 to resolve the U.S. Department of the Treasury's investigations into the bank's apparent violations of Ukraine-related sanctions, a drop in the bucket compared to the maximum statutory penalty of $75.7 million.

The Treasury Department's Office of Foreign Assets Control said Wednesday that New York-based Deutsche Bank Trust Co. America violated Ukraine-related sanctions regulations when it processed a $28.8 million transaction in August 2015 that involved IPP Oil Products (Cyprus) Ltd., an entity on OFAC's list of Specially Designated Nationals and Blocked Persons.

The Treasury Department says the transaction violated former President...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!