(Reuters) – The U.S. Treasury Department on Thursday reached a $115,000 settlement of two cases involving banking group TD Bank NA for apparent violations of narcotics kingpin and North Korea sanctions.
The apparent violations in both matters were voluntarily self-disclosed and were non-egregious, the Treasury Department said on Thursday.
In one case, the bank processed transactions and maintained accounts on behalf of employees of the North Korean mission to the United Nations without a license from the Treasury’s Office of Foreign Assets Control (OFAC), according to the Treasury Department.
In the second case, the bank maintained accounts for a U.S. resident who was listed on OFAC’s list of “Specially Designated Nationals and Blocked Persons.”
(Reporting by Kanishka Singh in Bengaluru; Editing by Mark Porter)
