Sanctions compliance a struggle for banks

Banks facing wider sanctions and tougher enforcement


US regulators are on the warpath over sanctions violations. The fine of $8.9 billion imposed on BNP Paribas at the end of June sent out a signal that those who breach the restrictions should expect a heavy punishment.

BNP Paribas was found to have been trading with Iran, Cuba and Sudan between 2004 and 2012, in what the US attorney general Eric Holder called "a complex and pervasive scheme to illegally move billions through the US financial system". The French bank pleaded guilty to two criminal

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: