BNP Paribas ready for record fine

BNP Paribas ready for record fine

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. br br The US Justice Department could also ban some some divisions of the bank from trading.br br It is expected to plead guilty to a criminal charge in New York’s Manhattan Federal Court on Monday.br br BNP has been accused of not respecting a United States embargo on financial transactions with Iran, South Sudan and Cuba between 2002 and 2009. br br 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. br br France has asked that the fine to be “fair”.


User: euronews (in English)

Views: 38

Uploaded: 2014-06-30

Duration: 00:45

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