A New York agency's threat to revoke Standard Chartered Bank's state license for alleged sanctions violations is based on a flawed understanding of U.S. Treasury regulations, say former U.S. officials.
A Dutch bank has agreed to pay $619 million to settle claims that it intentionally helped move more than $2 billion through the U.S. financial system in violation of sanctions against Cuba and Iran
One 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.
An expected fine for Barclays Plc totaling at least $300 million is tied to the bank's removal of data on wires involving Iran, according to a person with knowledge of the matter.
The chief investigator of sanctions violations at Lloyds TSB Bank and Credit Suisse speaks with Editor-in-Chief Kieran Beer about the unprecedented penalties and the need for federal beneficial ownership legislation.
A nearly $540 million fine against Credit Suisse AG for facilitating illicit transactions for Iran is sending a message to the financial industry: large sanctions penalties are here to stay.
Credit Suisse AG will pay $536 million as part of an agreement to settle charges that it provided banking services to entities that were the subject of U.S. economic sanctions, according to a statement released by the bank today.
Prosecutors are seeking nearly $300 million in penalties, charging that the two foreign-based banks helped to launder the proceeds of a massive securities fraud involving shares of software maker AremisSoft.