J.P. Morgan to settle allegations of violating sanctions - US Treasury
FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky/File Photo
WASHINGTON: J.P. Morgan Chase Bank has agreed to pay US$5.3 million to settle allegations it violated Cuban Assets Control Regulations, as well as Iranian and Weapons of Mass Destruction sanctions, 87 times, the U.S. Treasury said on Friday.Treasury also said it had found the bank violated sanctions on narcotics and Syria, when it processed 85 transactions and maintained accounts for six sanctioned individuals.
(Reporting by Lisa Lambert)
Source : https://www.channelnewsasia.com/news/business/j-p--morgan-to-settle-allegations-of-violating-sanctions---us-treasury-10796564