Industrial Bank of Korea to pay $35 million fine for violating anti-money laundering law--NY state

Industrial Bank Of Korea

20/04/2020 15:06

NEW YORK, April 20 (Reuters) - Industrial Bank of Korea
 024110.KS  will pay $35 million in fines to settle charges it
violated New York state laws designed to thwart money
laundering, a regulator said on Monday.
    The payment resolves charges that IBK violated New York's
Bank Secrecy Act and anti-money laundering laws, according to
Linda Lacewell, superintendent of New York's Department of
Financial Services.

 (Reporting by Jonathan Stempel in New York, Editing by Franklin
Paul)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))