Key Bank National Association OFAC Settlement: $200K

Last updated: July 20, 2026

Key Bank National Association settled allegations of violations of the Iranian Transaction Regulations by remitting $200,000 to OFAC. The alleged violations occurred between 2002 and August 2004 and involved operating accounts for an entity and a person located in Iran. Key Bank did not voluntarily disclose this matter to OFAC.

Penalty Amount

$200,000.00

Enforcement Date

February 22, 2008

Rank in Top Penalties

#191

Case Details

Type:: Entity
Name:: Key Bank National Association
Country:: 🇺🇸 United States
Industry:: Banking
Address:: Cleveland, OH
Penalty amount:: $200,000.00
Egregious case:: Unknown
Voluntary self disclosure:: No
Case:: Settlement
Violation period:: 2002 to August 2004
Program:: Iranian Transactions Regulations
Enforcement date:: February 22, 2008

Nature of the Apparent Violations

Key Bank acted without an OFAC license or outside the scope of its license by operating accounts for an entity and a person located in Iran.

Official Source Documents

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View archived version View on ofac.treasury.gov

Archived on June 13, 2026

SHA-256: 21f18f5b5be6e4a52aaed772cbb3f7cc063375490bb3f7a4eeee8fa9b4c8effa