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ENFORCEMENT INFORMATION FOR April 15, 2019
UniCredit Bank AG Settles Potential Civil Liability for Apparent Violations of Multiple Sanctions Programs: UniCredit Bank AG, a financial institution headquartered in München, Germany and a subsidiary of the UniCredit Group, has agreed to a settlement amount of $553,380,759 to settle its potential civil liability for 2,158 apparent violations of primarily the Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 C.F.R. Part 544 (WMDPSR), but also apparent violations of the Cuban Assets Control Regulations, 31 C.F.R. Part 515 (CACR); the Burmese Sanctions Regulations, 31 C.F.R. Part 537 (BSR)[i]; the Sudanese Sanctions Regulations, 31 C.F.R. Part 538 (SSR)[ii]; the Syrian Sanctions Regulations, 31 C.F.R. Part 542 (SySR)[iii]; the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (ITSR)[iv]; the Libyan Sanctions Regulations, 31 C.F.R. Part 570 (LSR); and the Global Terrorism Sanctions Regulations, 31 C.F.R. Part 594 (GTSR) (collectively, the “Apparent Violations”).
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Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
1) This is the first of three separate settlement agreements pertaining to UniCredit entities. Comments are broken apart by entity fined. See:
* Civil Enforcement Information - UniCredit Bank AG (Settlement 1 of 3 in web post)
* Civil Enforcement Information - UniCredit Bank Austria AG (Settlement 2 of 3 in web post)
* Civil Enforcement Information - UniCredit S.p.A. (Settlement 3 of 3 in web post)
2) Further factual information provided in Settlement Agreement (OFAC) - UniCredit Bank AG; Criminal Forfeiture Information - UniCredit Bank AG.
3) As noted in the first paragraph of the web post, most or all of the OFAC fine is essentially non-payable, given that the fines imposed by the other federal agencies party to the global settlement are owed over $553,380,759.
4) Up through the day on which it was released, the UniCredit Bank...