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Weekly Roundup: OFAC Fines Intesa Sanpaola $3 Million, Italy Arrests Senior Vatican Official, and More
printThe U.S. Treasury Department's Office of Foreign Assets Control (OFAC) fined Intesa Sanpaolo S.p.A. nearly $3 million for apparent violations of sanctions against Cuba, Sudan and Iran. The bank did not disclose to the sanctions regulator that it had provided services to a Genoa-based company that is owned by the Iranian government, OFAC said. More Separately, the bank processed approximately 120 transactions through the United States on behalf of Cuban and Sudanese parties. The fine follows the disclosure that OFAC fined Wells Fargo nearly $24,000 for violating sanctions against drug traffickers. More Italian authorities arrested a senior Vatican accountant, an...
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