Handling the risks of a newly aggressive sanctions regime

International banks must exert more care on dollar transactions

nimisha-agarwal
Nimisha Agarwal

The international banking community watches with great anticipation as US regulators continue to flex their muscles in Europe. Following a guilty plea to criminal charges for breaking sanctions against Sudan, Iran and Cuba, BNP Paribas has been fined $9 billion and suspended for a year from performing certain dollar clearing transactions through its New York branch. The size of fine and restricted access are unprecedented, and it appears to have whetted US regulators' appetites: they are curr

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