
Barclays stumps up $298 million after evading sanctions
NEW YORK – Barclays bank has agreed to pay $298 million to settle criminal charges brought by US and New York prosecutors.
Barclays had been accused of hiding payments into the US that had arrived from countries under economic sanctions.
For an 11-year period between 1995 and 2006, Barclays employees concealed transactions coming from Iran, Cuba, Libya, Burma and Sudan.
Barclays was accused of following instructions from banks in sanctioned states not to mention their names in US dollar payment
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operational risk
Risk management
Union beckons for the three quant tribes
Studies may be deferred, but future for grads is bright, argues UBS’s Gordon Lee
Receive this by email