U.S. Treasury Dept says settlement reached over TD Bank's sanctions violations

(Reuters) -The U.S. Treasury Department on Thursday reached a $115,000 settlement of two cases involving banking group TD Bank NA for apparent violations of department sanctions against individuals and North Korea.

The apparent violations in both matters were voluntarily self-disclosed and were non-egregious, the Treasury Department said.

In an emailed statement, the bank described the settlement as a "fair resolution" and added that it was committed to U.S. sanctions compliance.

In one case, TD Bank NA processed transactions and maintained accounts on behalf of employees of the North Korean mission to the United Nations without a license from the Treasury's Office of Foreign Assets Control (OFAC), according to the Treasury Department.

In the second case, the bank maintained accounts for a U.S. resident who was listed on OFAC's list of "Specially Designated Nationals and Blocked Persons."

(Reporting by Kanishka Singh in Bengaluru; Editing by Mark Porter and Dan Grebler)