U.S. prosecutors probing Japan's Mitsubishi UFJ for violation of anti-money-laundering rules: NYT
- 5 years ago
Prosecutors in the U.S. are said to have been probing Japan's largest bank since late last year.... on alleged violation of anti-money-laundering rules involving North Korea.
According to a report in the New York Times,.... Mitsubishi UFJ Financial Group was subpoenaed for deliberately ignoring an internal filter..... designed to keep it from working with entities on international sanctions lists.
This includes.... failing to set up a system to check the identities of some Chinese doing business along the North Korean border.
The report said.... it wasn't clear whether prosecutors have evidence North Koreans laundered money through the bank,.... but a chief concern was the (QUOTE-UNQUOTE) "holes in the system", designed to trace such transactions.
The bank has been fined by the U.S. before.... for removing and hiding information from its records about transactions involving parties in countries like Iran and Myanmar.
According to a report in the New York Times,.... Mitsubishi UFJ Financial Group was subpoenaed for deliberately ignoring an internal filter..... designed to keep it from working with entities on international sanctions lists.
This includes.... failing to set up a system to check the identities of some Chinese doing business along the North Korean border.
The report said.... it wasn't clear whether prosecutors have evidence North Koreans laundered money through the bank,.... but a chief concern was the (QUOTE-UNQUOTE) "holes in the system", designed to trace such transactions.
The bank has been fined by the U.S. before.... for removing and hiding information from its records about transactions involving parties in countries like Iran and Myanmar.