Risk Level:
unknown %

Status:
Medium Alert – Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.

Info:
In July 2018 Piraeus Bank Romania S.A. was acquired by the J.C Flowers, a private equity leader, and was renamed into First Bank S.A. First Bank S.A. provides a broad range of retail and business banking products and services to private individuals, SMEs and other companies;

First Bank SA, located in Romania, and its U.S. parent company, JC Flowers & Co. (collectively, “Respondent”), have agreed to remit $862,318 to settle potential civil liability for First Bank’s processing of transactions in apparent violation of OFAC’s Iran and Syria sanctions programs. Specifically, First Bank processed 98 commercial transactions totaling $3,589,189 through U.S. banks on behalf of parties located in Iran and Syria. In 2018, after JC Flowers acquired a majority ownership interest in First Bank, First Bank processed Euro-denominated payments for persons located in Iran. The settlement amount reflects OFAC’s determination that the Respondent’s apparent violations were voluntarily self-disclosed and non-egregious;

Also Known As:
First Bank SA

Country:
Romania

Address:
Sos. Nicolae Titulescu, nr.29-31, sector 1, 011132, BUCURESTI, Romania

Reason for the color:
» OFAC Enters Into $862,318 Settlement with First Bank SA and JC Flowers & Co.for Apparent Violations of Iran and Syria Sanctions Programs;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.