Société Générale S.A. has settled allegations that it violated US sanctions and New York state law. In a global settlement involving OFAC, the Board of Governors of the Federal Reserve System, the Department of Justice, the New York County District Attorney’s Office, the Southern District of New York, and the New York Dept. of Financial Services, the bank agreed to pay $53,966,916.05 to resolve potential civil liability for violations of the Cuba, Iran, and Sudan sanctions. Although the bank voluntarily disclosed the violations, it ignored warning signs that its conduct might constitute a violation of sanctions laws.
November 19, 2018
French bank settles sanctions charges
Related by Topic
New Post
OFAC designates individuals and entities in Mexico involved in cartel-related timeshare fraud
July 18, 2024
News Alert
New Post
U.S. designates research company for supporting chemical weapons research and development in Iran
July 17, 2024
News Alert