JPMorgan Chase Bank has agreed to pay penalties of more than $5.26 million to settle over 87 violations of US sanctions, including measures imposed against Cuba and Iran, the US Treasury Department's Office of Foreign Assets Control (OFAC) said in a press release on Friday.
WASHINGTON (Pakistan Point News / Sputnik - 05th October, 2018) JPMorgan Chase Bank has agreed to pay penalties of more than $5.26 million to settle over 87 violations of US sanctions, including measures imposed against Cuba and Iran, the US Treasury Department's Office of Foreign Assets Control (OFAC) said in a press release on Friday.
"The US Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $5,263,171 settlement with JPMorgan Chase Bank, N.A., to settle potential civil liability for 87 apparent violations of the Cuban Assets Control Regulations ... the Iranian Transactions and Sanctions Regulations... and the Weapons of Mass Destruction Proliferators Sanctions Regulations," the release said.
