Lloyds and OFAC settle for $217m on sanctions violations

WASHINGTON, DC – The US Treasury’s Office of Foreign Assets Control (OFAC) has announced a $217 million settlement with Lloyds TSB over compliance violations relating to wire transfers with Iranian, Libyan and Sudanese customers. The federal government resolution follows a $350 million settlement between Lloyds and Manhattan district attorney Robert Morgenthau in January 2009 for the same violations. The government says the UK bank – 43% state-owned and renamed Lloyds Banking Group since its

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