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Barclays fined $298m for breach of US sanctions
Barclays has been fined $298 million with US prosecutors which ends an investigation into its dealings with countries under government sanctions, including Cuba and Iran.
Markets
Barclays has been fined $298 million with US prosecutors which ends an investigation into its dealings with countries under government sanctions, including Cuba and Iran.
The probe relates to $500 million worth of transactions undertaken by Barclays between March 1995 and September 2006 during which the bank allegedly removed details from payments to hid the origin of the countries, according to a Washington federal court hearing.
Barclays is believed to have disclosed information on dealings with Cuba, Iran, Libya and Sudan after it became aware that it may have broken sanctions.
Information from Barclays own investigations led to the bank being charged by the US Department of Justice with a count of violating the International Emergency Powers Act and another count of trading with the enemy.
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1 comment so far. Why not have your say?
Thoughtfull
Aug 17, 2010 at 22:02
Dear Mr USA,
Since your great country genuinly saved the free world from facism you are regretably, but gradually, adopting its attitudes while still posing as the saviour. That you do this is no doubt unintentional. I do not beleive that American citizens want to dominate the world.
Please take note and stop intending to do what you alone perceive to be the best and thereby creating enemies for us all.
Thanks.
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