Regulation, Risk & Compliance
Retail Banking
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Dubai Bank Pays $100 Million to Resolve Sanctions Violations with DFS, OFAC and Federal Reserve
Mashreqbank, based in Dubai, agreed to pay $100 million to the New York Department of Financial Services, the Federal Reserve, and the Office of Foreign Asset Control for violation of the now-repealed Sudan Sanctions Regulations. The Sudan Sanctions Regulations were repealed on June 29, 2018. OFAC issued only a Finding…
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