State Street Bank & Trust didn’t receive monetary penalty due in part to self-disclosure and compliance programme improvements

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A subsidiary of State Street violated Iranian transactions and sanctions regulations, the Treasury Department said Tuesday, but the government stopped short of issuing a monetary penalty.

The Treasury’s Office of Foreign Assets Control said custodian bank State Street Bank & Trust violated US Iranian sanctions regulations by processing payments on behalf of a person in Iran.

State Street subsidiary violated Iranian sanctions, US Treasury says

Mengqi Sun

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