Deutsche Bank fined $258m for violating US sanctions
German banking giant Deutsche Bank will pay $258m in fines for doing business with US-sanctioned countries like Iran and Syria, US regulators said Wednesday.
“The firm did not have sufficient policies and procedures to ensure that activities conducted at its offices outside of the United States complied with US sanctions laws,” said the Federal Reserve, which announced the penalties along with the New York state department of financial services.
Deutsche Bank will pay $200m to the NYDFS and $58m to the Federal Reserve.
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