
Commerzbank agreed to pay a $610 million penalty to the Department of Financial Services,, terminate individual employees who engaged in misconduct, and install an independent monitor to resolve allegations that it engaged in transactions on behalf of countries such as Iran and Sudan that were subject to U.S. Economic sanctions as well as a Japanese corporation that engaged in accounting fraud. At the same time, the bank resolved criminal cases brought by the U.S. Justice Department and the Manhattan District Attorney's Office. For more info visit https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1503121