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Joint Press Release
Board of Governors of the Federal Reserve System
New York State Banking Department
The FDIC and the NYSBD issued a joint Order to Cease and Desist against the Bank of Tokyo-Mitsubishi UFJ Trust Company, a New York State-chartered banking corporation. Bank of Tokyo-Mitsubishi UFJ Trust Company, without admitting or denying the allegations, consented to the issuance of the Order. The Order determined that Bank of Tokyo-Mitsubishi UFJ Trust Company failed to implement adequate Bank Secrecy Act and anti-money laundering compliance programs.
The Federal Reserve Bank of San Francisco, the Federal Reserve Bank of New York, and the NYSBD executed a Written Agreement with Mitsubishi UFJ Financial Group Inc., Tokyo, Japan; its subsidiary bank, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Tokyo, Japan; and the bank’s branch in New York, New York. The Written Agreement addresses Bank Secrecy Act and anti-money laundering compliance policies and practices at The Bank of Tokyo-Mitsubishi UFJ, Ltd.’s New York branch.
Copies of the Order and the Written Agreement are attached.
