BNP Paribas to pay $9 billion in fines for violating sanctions on Sudan, Iran, and Cuba

Published 23 June 2014

French bank BNP Paribas SA will pay $8 billion to $9 billion to the U.S. Treasury as part of a settlement with U.S. authorities over violations of sanctions. U.S. authorities are investigating whether BNP Paribas evaded U.S. sanctions relating primarily to Sudan, but also Iran and Cuba, between 2002 and 2009, and whether it stripped out identifying information from wire transfers so they could pass through the U.S. financial system without raising red flags. The investigation has turned up more than $100 billion in books and records violations transactions involving the three countries.

Source: BNP Paribas to pay $9 billion in fines for violating sanctions on Sudan, Iran, and Cuba