New York’s banking regulator has demanded $300 million from Bank of Tokyo-Mitsubishi UFJ as part of a potential agreement over sanctions-related violations, according to people familiar with the matter.
The demand comes on top of a $250 million settlement Japan’s largest bank negotiated with the regulator last year for deleting information from $100 billion in wire transfers that authorities could have used to police transactions with Myanmar, Iran, Sudan and other entities subject to US sanctions.
The new penalty stems from the discovery after the June 2013 settlement that the bank had submitted a report that allegedly whitewashed a scheme to falsify transactions for entities subject to the sanctions.