Industrial Bank of Korea (IBK)

HQ Country of Company:
South Korea
Agency:
NYS Department of FInancial Services
Location of Sentencing:
New York
Date:
Description:
New York authorities fined a South Korean bank over long-running gaps in its defenses against money laundering, after the lender’s Manhattan branch was used to launder cash for Iran.
Fine:
Total Fine
$86,000,000.00
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$86,000,000.00
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