Governor Andrew M. Cuomo has announced that the Bank of Tokyo Mitsubishi-UFJ (BTMU) has agreed to pay $250 million to the New York State Department of Financial Services
(DFS) for allegedly handling financial transactions involving countries and entities subject to international sanctions and removing details of international transactions.

DFS alleges that BTMU conducted nearly 28,000 illegal transactions totalling $100 billion between 2002 and 2007 by moving money through New York for government and private entities in Iran, Sudan and Myanmar, as well as entities on the Specially Designated Nationals list issued by the US Treasury Department’s Office of Foreign Assets Control.

As part of the agreement, BTMU will engage an independent consultant for one year who will report directly to DFS and evaluate risk controls for sanctions compliance in the New York branch and monitor the implementation of any appropriate corrective measures.

In addition, BTMU will submit written plans for approval to DFS to improve the company’s compliance policies and procedures, and enhance management oversight of those programs.

Copies of the agreement =  http://www.dfs.ny.gov/about/press2013/pr1306201.htm
and
the related consent order = http://www.dfs.ny.gov/about/press2013/pr201306201-tokyo.pdf