Deutsche Bank to pay $258 mln to settle sanctions violations

November 4, 2015 6:00 PM

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Nov 4 Deutsche Bank AG will pay a $258 million penalty for transactions it conducted on behalf of U.S.-sanctioned countries and entities including Iran and Syria, the New York Department of Financial Services (NYDFS) said on Wednesday.

Germany's largest bank conducted $10.9 billion in clearing transactions for the customers between 1999 and 2006, using "non-transparent methods and practices" to shield those transactions from scrutiny, the New York State financial regulator said.

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