France's largest retail bank will pay $787 million to U.S. authorities and fire one employee to avoid criminal and civil charges that it violated economic sanctions and state recordkeeping rules. Over the course of five years, Credit Agricole SA and its subsidiary Credit Agricole Corporate and Investment Bank, which until 2010 operated under the name "Calyon," moved approximately $312 million through the U.S. financial system on behalf of blacklisted entities in Sudan, Iran, Myanmar and Cuba, according to federal and state regulators. As a result of written policies and procedures developed by compliance and business employees, the institution's current and...
American lawmakers could ask corporations to pay additional sums for sanctions violations as part of an effort to compensate victims of militant groups included on the U.S. State Sponsors of Terrorism list.
Settlement negotiations with Credit Agricole CIB have revived a longstanding disagreement among U.S. agencies over whether a bank should be penalized for not disclosing legal transactions linked to Iran, sources say.
Credit Agricole SA is nearing a final deal with U.S. officials over its alleged sanctions violations, Ukrainian separatists in the country's Donetsk region are in the process of creating their own currency, and more, in this week's roundup.