Weekly Roundup: SWIFT Bars Sanctioned Iranian Banks, Ex-J.P. Morgan Bank Manager Pleads Guilty to Structuring, and More

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced Thursday that it has stopped transacting with sanctioned Iranian banks. More SWIFT, which was incorporated in Belgium, said that the decision is in line with the European Union ban on financial data exchange services to sanctioned Iranian entities. More International sanctions and the plummeting value of Iranian rials has caused many large money exchanges houses in Dubai to stop doing business with Iran, Reuters reported Wednesday. More The move follows a December decision by the Dubai-based Noor Islamic Bank to stop processing transactions related to Iran's oil sector. More India faces...