Iran: SocGen agrees fine for sanctions-busting


Issue 1070 - 29 Nov 2018 | 1 minute read

France’s Société Générale has agreed to pay fines totalling $1.3bn to settle actions brought by the United States over its processing of transactions which broke US sanctions, including those on Iran and Cuba.The settlement covers actions by the Department of the Treasury’s Office of Foreign Assets Control, the US Attorney’s Office of the Southern District of New York (SDNY), New York County District Attorney’s Office (DANY), the Federal Reserve and New York State Department of Financial Services. The bank has also signed deferred prosecution agreements with SDNY and DANY.

Tagged with:

Pin Economy & business

Pin Iran

Want to read more?

Subscribe to Gulf States Newsletter

View subscription options

This article is available to registered users

Login

Join our community

Sign up for an account to gain:

  • Set up news alerts on the countries and sectors that matter to you.
  • Free access to newsletter articles under 100 words.
  • Free access to GSN View articles articles.


View a selection of Free articles

Explore subscription options

Follow us on Google News