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Entries in Sudan (18)

Monday
Sep292014

WSJ: Money laundering probe could hold up Commerzbank sanctions settlement

Image courtesy of CommerzbankThe U.S. Attorney in Manhattan is investigating Germany's  Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.

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Tuesday
Aug262014

After $9 billion sanctions fine, BNP replaces chief compliance officer

BNP Paribas SA said Jean Clamon, its top compliance officer since 2008, will retire this year.

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Monday
Aug182014

New York regulator suspends PwC consulting unit for two years

New York's Department of Financial Services said Monday that PricewaterhouseCoopers (PwC) Regulatory Advisory Services has been suspended for two years for helping whitewash a sanctions and anti-money laundering compliance report from the Bank of Tokyo Mitsubishi (BTMU).

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Friday
Jul112014

BNP compliance staff first warned top execs, but later disguised misconduct 

Image courtesy of RT.com via YouTubeBNP Paribas SA ignored the warnings of its compliance staff as the bank broke U.S. sanctions, but the compliance team helped hide the origins of the transactions from U.S. authorities, according to the bank's guilty plea this week.

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Thursday
Jul102014

Judge accepts BNP guilty plea for sanction offenses

BNP Paribas pleaded guilty Wednesday to a charge of violating U.S. economic sanctions by processing transactions for clients in blacklisted countries, a development that a U.S. judge said should shows that no financial institution is "immune from the rule of law."

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Wednesday
Jul092014

Sanctions probe now targets German banks

State and federal authorities have begun settlement talks with Commerzbank AG and Deutsche Bank over their alleged dealings with countries blacklisted by the United States.

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Tuesday
Jul082014

Who should pay for BNP's crimes?

On June 30, the Justice Department and other federal and state agencies announced the long awaited settlement in the BNP case. The bank forfeited $8.8 billion and paid fines of $140 million for the “hat-trick of sanctions violations” -- unlawfully offering the U.S. financial markets to three sanctioned countries: Sudan, Iran and Cuba.

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Tuesday
Jul012014

BNP admits guilt, fined $8.9 billion for U.S. sanctions violations

Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas (Image courtesy of Euro Business Media via YouTube)French banking giant BNP Paribas agreed to plead guilty to criminal charges and pay an $8.9 billion penalty for transferring billions of dollars on behalf of blacklisted Sudan, Iran and Cuba, U.S. authorities said Monday.

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Monday
Feb172014

BNP Paribas faces penalties for potential U.S. sanctions violations

BNP Paribas has set aside $1.1 billion for a potential settlement with federal and state government agencies that are investigating possible U.S. sanctions violations.

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Tuesday
Nov262013

Weatherford pays $152.6 million for FCPA violations, $100 million for trade sanctions

Weatherford International agreed Tuesday to pay $152.6 million to the DOJ and SEC for FCPA offenses in the Middle East and Africa and violation of the Iraq oil-for-food program.

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