TOKYO (Yosefardi) – The Bank of Tokyo-Mitsubishi UFJ, a subsidiary of Mitsubishi UFJ Financial Group, will pay US$250 million to the New York State Department of Financial Services related to certain US dollar payments that were routed through New York from 2002-2007.
“Under the terms of the agreement, BTMU will make a payment of US$250 million to DFS and retain a consultant to conduct a one-year compliance review,” Mitsubishi UFJ said.
BTMU is one of the largest foreign banks operating in Indonesia.
As reported earlier, BTMU is accused of illegally funneling billions of US dollars to countries that are under US sanctions, including Iran, Sudan, and Myanmar. The bank, according to DFS, cleared around 28 thousands of illicit transactions in 2002-2007.