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BNP-Paribas

BNP Paribas close to $9bn settlement over alleged sanctions violations in Sudan, Iran

: Wednesday, June 25 - 2014 @ 03:10

French lender, BNP Paribas is likely to pay $8bn to $9bn as part of a potential settlement with US authorities over violations of sanctions against Sudan, Iran and Cuba, Reuters has reported, citing a person familiar with the matter. US authorities are investigating whether BNP evaded US sanctions relating primarily to Sudan between 2002 and 2009, and whether it stripped out identifying information from wire transfers so they could pass through the US financial system without raising red flags, sources have said. The bank faces other penalties such as being suspended from clearing clients’ dollar transactions, sources close to the situation have said.

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Wednesday, June 25- 2014 @ 3:10 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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