Fed levies record fine on sanctions-busting BNP Paribas
Federal Reserve fines French bank half-a-billion dollars for sanctions-busting
The Federal Reserve has levied its biggest ever fine as part of the almost $9 billion penalty that French banking group BNP Paribas (BNPP) is being required to pay in the US for "deliberately and repeatedly" violating US sanctions against Sudan, Cuba and Iran.
The Fed's portion of the fine totalled $508 million, with most of the rest levied by the Department of Justice (DoJ) and the Treasury's Office of Foreign Assets Control. The rest is levied by various New York State authorities.
The Fed's
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