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 settles apparent violations of Iran-related sanctions laws for $9 million
September 22, 2023
News Alert
New Post
OFAC settles with private US bank for $31,000 to resolve apparent violations of Iran-related sanctions
September 22, 2023
News Alert
New Post
OFAC publishes new FAQs regarding the humanitarian channel in Qatar
September 20, 2023
News Alert