The US Department of Justice (DoJ) announced that another Category 2 bank, Aargauische Kantonalbank (AKB), reached a solution under the US Tax Program. The bank signed a Non-Prosecution Agreement and will pay a penalty.

According to the DoJ, AKB opened, maintained and serviced accounts for US persons that it knew or had reason to know were not declared to the Inland Revenue Service (IRS) as required by the US law.

In the AKB’s NPA we learn that since August 2008 through 2014, the bank held 454 US-related accounts having a maximum aggregate value of over $639m. AKB will pay a penalty of $1.983m.