Commerzbank could pay up to a billion dollars for violating the US embargo.
The bank is accused by the US of breaking trade embargoes.
Accused of violating the US embargo in particular trading with Iran, the second German bank, Commerzbank , might have to pay a fine of more than a billion dollars according to a source close to the case and the Wall Street Journal.
An agreement covering the different surveys US authorities (Federal Reserve services regulator Financial in New York or DSF, Department of Justice and Attorney Manhattan) is being finalized for an announcement by January.
The bank revealed in 2010 that its operations in dollars in connection with Iran were the subject of an investigation in the United States. She had not given any indication of the amount of the fine it might have to pay.
IRAN, SUDAN, BURMA
In detail, the German establishing écoperait a fine of $ 600 million for transactions concerning the violation of US embargoes on Iran, Sudan and Burma among others. The rest would cover other charges against the bank as accusations of violations of US anti-money laundering rules initiated by the prosecutor of Manhattan (New York) in late September.
Having agreed on the amount of the fine, both parties are negotiating on other requests made by the financial services regulator in New York, Benjamin Lawsky, the source said. This requires that the bankers involved in the impugned transactions drawback …
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