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French bank fined for violating US sanctions
http://www.dw.com/en/french-bank-fined-for-violating-us-sanctions/a-18792404French bank Credit Agricole has reportedly made a deal with US investigators to avoid criminal charges for helping sanctions-blocked countries move money through the US. The arrangement could be announced Tuesday.
French bank fined for violating US sanctions
20.10.2015
Under the settlement, which was revealed to news agencies by unnamed sources on Monday, the bank would pay a $787 million fine for illegally handling billions of dollars in transfers to and from countries under US sanctions, including Iran, Sudan and Cuba, from 2003 to 2008.
The arrangement, known as deferred prosecution, allows the bank to avoid a guilty plea and criminal charges if it pledges not to engage in similar behavior in the future.
Credit Agricole would face close oversight for a period of roughly three years to ensure it was complying with the terms of the deal.
Sanctions-busting European banks
Credit Agricole is the latest foreign bank to settle with US authorities over sanctions violations. Rival bank BNP Paribas paid a record sum of $8.9 billion earlier this year for similarly illicit transactions.