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Doha Bank Branch To Pay $5M Over DOT Claims

Law360 (April 21, 2009, 12:00 AM EDT) -- The New York branch of Doha Bank has agreed to pay the U.S. Department of the Treasury $5 million to settle allegations that the Qatar-based bank violated a federal law designed to curtail money laundering by failing to identify and monitor suspicious fund transfers and other activities.

Doha agreed to pay the civil fine — which accounts for two concurrent $5 million penalties from the department's Financial Crimes Enforcement Network and Office of the Comptroller of the Currency — without admitting to or denying the accusations,...
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