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Weekly Roundup: Turkish Banks Deny Breaching US Sanctions, US Officials Claim North Korea Sponsors Terror, and More

Turkish lenders Aktif Bank, Halkbank, Denizbank, Ziraat Bank and Vakifbank denied allegations that they conspired with convicted Turkish-Iranian financier Reza Zarrab to circumvent U.S. sanctions against Iran by moving funds through U.S. financial institutions on behalf of Tehran, Reuters and the Daily Sabah reported. More, More, More and More Zarrab testified Thursday in Manhattan federal court that he learned from Turkey’s former economic minister, Zafer Caglayan, that President Recep Tayyap Erdogan and then-Treasury Minister Ali Babacan authorized Turkish lenders Ziraat Bank and VakifBank to transfer funds for Iran in violation of U.S. sanctions, Bloomberg reported. More A U.S. Justice Department pilot program...

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