Commerzbank AG

In March 2015, Commerzbank AG entered a coordinated U.S. resolution concerning sanctions violations and failures under the Bank Secrecy Act. According to the U.S. Department of Justice, from 2002 to 2008 Commerzbank knowingly and willfully moved approximately $263 million through the U.S. financial system on behalf of sanctioned Iranian and Sudanese entities, using methods designed to conceal their involvement. DOJ also said that from 2008 through at least 2013 Commerzbank's New York branch failed to maintain adequate anti-money-laundering controls, including failures connected with transactions used in the Olympus accounting fraud. Commerzbank agreed to forfeit $563 million and pay a $79 million Justice Department fine. Combined with payments to other U.S. regulators and authorities, the bank's resolution totalled approximately $1.45 billion. Source: U.S. Department of Justice https://www.justice.gov/archives/opa/pr/commerzbank-ag-admits-sanctions-and-bank-secrecy-violations-agrees-forfeit-563-million-and