The Royal Bank of Scotland Plc will pay federal and state regulators $100 million to settle charges that it knowingly violated U.S. economic sanctions against Cuba, Myanmar, Sudan and Iran.
Among the toasts at Adam Kaufmann's "retirement" party last week was one by a speaker who credited him with turning a bounced check into more than a billion dollars in penalties that have been shared by the city and state of New York over the past four years.
New York's importance as both a financial center and a target for terrorists not only justifies but demands tough prosecutions from Manhattan prosecutors, New York's District Attorney said Friday.
The United Kingdom could begin using a powerful prosecutorial tool as early as next year in investigations of financial institutions suspected of facilitating money laundering and sanctions violations.
ING Groep N.V. has set aside 370 million euros to settle charges with the U.S. Treasury Department that its commercial banking unit violated sanctions laws, the financial institution disclosed Wednesday.
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