Probe of Potential BNP Paribas Sanctions Violations Centered on Sudan: Source

By Brian Monroe

A law enforcement and regulatory probe into potential sanctions violations by BNP Paribas centers on transactions tied to Sudan, according to an individual with direct knowledge of the matter. The Paris-based bank disclosed in February 2012 that it had discussed the matter with the U.S. Justice Department, Manhattan District Attorney's Office and other unspecified regulatory and governmental authorities. In the filing, the financial institution said only that it was conducting a review of certain U.S. dollar payments that may have involved blacklisted countries and entities. In the bank's 2012 annual report published in February of this year, BNP Paribas said...