July 26th, 2024, The U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) announced a $7,452,501 settlement with State Street Bank and Trust Company (State Street), a Massachusetts-based financial institution, on behalf of itself and its subsidiary, Charles River Systems, Inc. (Charles River). State Street agreed to settle its potential civil liability for 38 apparent violations of OFAC's Ukraine/Russia Related sanctions. The settlement amount reflects OFAC's determination that the apparent violations were not voluntarily self-disclosed and were egregious.
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