OFAC and JPMorgan agree $5.26m settlement over sanctions violations

Today, OFAC has announced a $5,263,171 settlement with JPMorgan Chase Bank, N.A., to settle its 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. In particular, the bank processed 87 net settlement payments with a total value of $1,022,408,149, of which...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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