The Bank of Tokyo-Mitsubishi UFJ, Ltd. Announces Apparent Violations of US
Economic Sanctions Regulations
TOKYO -- December 13, 2012
The Bank of Tokyo-Mitsubishi UFJ, Ltd. ("BTMU") (President: Nobuyuki Hirano)
has agreed to pay approximately $8.6 million to the Office of Foreign Assets
Control ("OFAC") of the U.S. Department of the Treasury to settle potential
civil liability for apparent violations of OFAC's regulations from 2006 to
BTMU conducted a self initiated internal investigation in 2007 of transactions
involving countries subject to U.S. sanctions and reported the results of the
investigation to OFAC. After a series of deliberations and consultations with
OFAC, some of the transactions reported by BTMU were determined to be apparent
violations of the OFAC regulations. BTMU continues to cooperate closely with
all relevant regulators and is sincerely undertaking necessary actions.
During this period, BTMU has fully reviewed its operations management
framework, and OFAC has acknowledged that BTMU has undertaken significant
remediation efforts. We are committed to continue improving our compliance and
internal control frameworks.
BTMU is committed to the highest standards of integrity and regulatory
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Akira Narumi, +81-3-3240-1111
Corporate Administration Division
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