Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Saudi bank settles violations of sanctions regs
OFAC has announced a settlement with the National Commercial Bank (NCB), a bank headquartered in Jeddah, Saudi Arabia. NCB agreed to remit $653,347 to settle its potential civil liability for 13 apparent violations of the Sudanese Sanctions Regulations, or section 2(b) of Executive Order 13582 of August 17, 2011, “Blocking Property of the Government of Syria and Prohibiting Certain Transactions With Respect to Syria."
This settlement amount reflects OFAC's determination that NCB's apparent violations were non-egregious, and NCB's cooperation during OFAC's investigation and improvement of its sanctions controls. For more information, see "Saudi bank settles with OFAC," in BankersOnline's Penalty pages.