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Barclays Agrees to Pay $298 Million to Settle Charges it Violated U.S. Sanctions Laws
printOne of the United Kingdom's largest banks has agreed to pay nearly $300 million to settle charges with U.S. and New York authorities that it stripped payment information from wire transactions to do business with countries on U.S. sanctions lists, according to court documents released Monday. Under the terms of two deferred prosecution agreements, Barclays Bank, PLC will pay $149 million to the U.S. Justice Department and the same amount to the Manhattan District Attorneys Office. In the agreements, Barclays conceded that it had altered payment messages attached to wire transactions for more than a decade and allowed more than...
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