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NY Blasts Bank Of Tokyo's Bid To Escape AML Enforcement

Law360 (February 2, 2018, 3:02 PM EST) -- The financial regulator of New York said Thursday that the Bank of Tokyo-Mitsubishi UFJ Ltd. cannot escape a state enforcement action for violations of anti-money laundering and sanctions compliance even though the bank has been granted a federal charter.

The New York State Department of Financial Services said in a brief filed in Manhattan federal court that although BTMU now has a federal charter, granted in November by the Office of the Comptroller of the Currency, the Japanese bank’s New York branch should still be subject...
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