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The House Committee on Foreign Affairs Thursday unanimously approved a measure that would penalize foreign banks that offer financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
As U.S. officials and bankers debate the merits and drawbacks of an expected $10 billion sanctions settlement with BNP Paribas, their French counterparts are offering a more unified response: outrage.
U.S. officials Tuesday charged a blacklisted Chinese national with using shell companies to maintain accounts at American banks and offered five million dollars for information on his whereabouts.
The West's financial ties to Russia have given countries pause in considering further sanctions, a Roman judge dropped a money laundering case against the former head of the Vatican Bank and more, in this week's news roundup.
In announcing sanctions against Russian politicians and one bank Thursday, U.S. officials made clear that American financial institutions should prepare for more, and soon.
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.
A U.S. official's threat last month of economic sanctions against four Chinese banks is likely to be toothless given economic and enforcement hurdles, say sanctions analysts.
U.S. officials have secretly solicited and, at times, received data from foreign banks on accounts tied to Iranian entities, without notifying the accountholders of the requests, say sources.
The Manhattan District Attorney's Office has launched an initiative to review regulatory suspicious activity reports in tandem with a broad outreach to banks, the agency's top official said Tuesday.
At least 10 large domestic and international banks have dropped the accounts maintained for dozens of companies that sell agricultural and medical products to Iran through U.S. Treasury Department licenses.
A federal judge's questioning of the recent DPA between the U.S. Department of Justice and Barclays Bank, could signal that future agreements will be more expensive for financial institutions and more perilous for their top executives, according to legal analysts.
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.
The United States is investigating the U.S. operations of New York-based HSBC USA Inc. for potential Bank Secrecy Act and sanctions violations, the bank said in regulatory filings released Tuesday.
The Royal Bank of Scotland will pay the United States $500 million over Bank Secrecy Act and sanctions violations committed by the now defunct ABN Amro, U.S. officials said Monday.
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.
The United Kingdom's chief financial regulator is investigating the Royal Bank of Scotland Group for potential compliance violations of U.K. anti-money laundering rules, the bank disclosed Wednesday.
Lloyds TSB Bank Plc. has agreed to pay the United States $350 million to settle charges that it hid wire transfers with blacklisted companies, the largest sanctions-related penalty to date.
The bank, which is based in London, expects to reach a "resolution" with the U.S. Justice Department, U.S. Treasury Department's Office of Foreign Assets Control and New York District Attorneys office, Lloyd's said in a statement Friday.
