Handling the risks of a newly aggressive sanctions regime

International banks must exert more care on dollar transactions

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 current

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