BNP Paribas ready for record fine
euronews (in English)
2014-06-30
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France’s biggest bank BNP Paribas is expected to pay a record nine billion dollar or six point five billion euro fine over alleged sanctions breaches following an out-of-court deal.
The US Justice Department could also ban some some divisions of the bank from trading.
It is expected to plead guilty to a criminal charge in New York’s Manhattan Federal Court on Monday.
BNP has been accused of not respecting a United States embargo on financial transactions with Iran, South Sudan and Cuba between 2002 and 2009.
The fine would be the largest penalty ever paid by a European bank for violations of sanctions imposed by the Office of Foreign Assets Control.
France has asked that the fine to be “fair”.
The US Justice Department could also ban some some divisions of the bank from trading.
It is expected to plead guilty to a criminal charge in New York’s Manhattan Federal Court on Monday.
BNP has been accused of not respecting a United States embargo on financial transactions with Iran, South Sudan and Cuba between 2002 and 2009.
The fine would be the largest penalty ever paid by a European bank for violations of sanctions imposed by the Office of Foreign Assets Control.
France has asked that the fine to be “fair”.
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