Bank of Tokyo-Mitsubishi exposed as wire stripper

In “reckless disregard [of] US sanctions”, Bank of Tokyo-Mitsubishi (BTMU) operated a documented process to exclude details of entities on the Office of Foreign Assets Control (OFAC) lists from payment messages, according to a US Treasury enforcement notice of 12 December 2012. [1] The bank will pay US$8,571,634 to settle potential civil liability.