Arab Today, arab today commerzbank to pay 14bn to settle us sanctions case
Last Updated : GMT 16:56:19
Arab Today, arab today
Arab Today, arab today

Commerzbank to pay $1.4bn to settle US sanctions case

Arab Today, arab today

Arab Today, arab today Commerzbank to pay $1.4bn to settle US sanctions case

Commerzbank
Frankfurt - AFP

Germany's Commerzbank will pay at least $1.4 billion to settle US claims that it violated sanctions on countries including Iran and Sudan, Bloomberg reported.
The second-biggest German lender agreed to the settlement with US authorities, which could be finalised this month as part of an accord that would also resolve a separate money-laundering matter, according to the report late Thursday.
Commerzbank would pay a minimum combined sum of $1.4 billion (1.3 billion euros) to the US Justice Department, the Federal Reserve and other regulators, Bloomberg said, quoting a person briefed on the matter.
The bank is accused of handling transactions for business with Iran, Sudan and other sanctioned countries.
It declined AFP's requests for a comment on the report.
Bloomberg said Commerzbank added 484 million euros to its legal provisions in 2014, and earmarked 934 million euros for legal costs at the end of 2013.
French bank BNP Paribas last year paid a record $8.9 billion fine imposed by the US Justice Department for violating international sanctions by doing business with Iran, Cuba, Sudan and other regimes targeted by embargoes.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today commerzbank to pay 14bn to settle us sanctions case Arab Today, arab today commerzbank to pay 14bn to settle us sanctions case

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today commerzbank to pay 14bn to settle us sanctions case Arab Today, arab today commerzbank to pay 14bn to settle us sanctions case

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday