Iran: SocGen agrees fine for sanctions-busting
Issue 1070 - 29 Nov 2018
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.
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