Commerzbank AG

HQ Country of Company:
Germany
Agency:
OFAC
Location of Sentencing:
Washington D.C.
Date:
Description:
As early as 2002, bank employees deleted or omitted references to Iranian financial institutions, replaced the originating bank information with Commerzbank’s name, and later created a process to route payments involving Iranian counterparties to a payment queue requiring manual processing by bank employees rather than routine, automated processing.
Fine:
Total Fine
$258,660,796.00
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$258,660,796.00
Source:
Treasury, “Enforcement Information for March 12, 2015.”
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