Kenneth Rijock

Kenneth Rijock

Tuesday, January 28, 2014

OFAC FINES BANK OF MOSCOW $9m FOR BANK MELLI SANCTIONS VIOLATIONS


The United States Treasury Department has levied a civil penalty of $9,492,525 upon the Bank of Moscow, for Iran and WMD sanctions violations. Bank Melli's Russian subsidiary, Bank Melli Iran ZAO, a sanctioned entity, moved over $41m through the Bank of Moscow. Wire transfer documents were altered to remove all mention of the bank, or Iran. You can review the complete text of the OFAC Civil Penalties information here*.
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*http://www.treasury.gov/resource-center/sanctions/CivPen/Documents/20140127_moscow.pdf

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