What laws did BNP Paribas violate?

What laws did BNP Paribas violate?

According to court documents, BNP conspired to violate the International Emergency Economic Powers Act and the Trading With the Enemy Act by concealing more than $190 billion in transactions from 2002 to 2012 on behalf of clients subject to U.S. sanctions in Sudan, Iran, and Cuba.

What year did BNP and Paribas merge?

BNP Paribas, French banking, financial services, and insurance company created through the 1999 merger of Banque Nationale de Paris (BNP) and Paribas. Its headquarters are in Paris. The company traces its history to a number of French banks.

How much was the total fine paid by BNP Paribas in this case?

French banking giant BNP Paribas entered into a guilty plea this week and a record $8.9 billion settlement with the Department of Justice for economic sanctions violations.

Which country fall under sanctioned territory?

Combined, the Treasury Department, the Commerce Department and the State Department list embargoes against 29 countries or territories: Afghanistan, Belarus, Burundi, Central African Republic, China (PR), Côte d’Ivoire, Crimea Region, Cuba, Cyprus, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq.

Who is the CEO of BNP Paribas?

Jean-Laurent Bonnafé (Dec 1, 2011–)
BNP Paribas/CEO

Is BNP Paribas a good bank?

BNP is an overall good employer. The salary is not great but the benefits definitely complement it. The work environment is definitely a plus; with good team-spirit and a lot of solidarity amongst team members. Management is often involved.

How much is HSBC money laundering fine?

Banking giant HSBC has been fined £63.9m by the UK’s financial regulator for “unacceptable failings” of its anti-money laundering systems. The Financial Conduct Authority (FCA) said weaknesses in HSBC’s financial crime safeguards had been highlighted several times before action was taken.