Break Sanctions, Pay The Price

The US$1.92 billion settlement reached between HSBC and the U.S. Department of Justice this past December over allegations of money laundering by the global bank served as a stark reminder to all financial institutions: The penalty for breaking sanctions against Iran and other blacklisted nations would not only be severe, but even the biggest institutions would be held accountable.

The aggressive stance is the result of a shift in priorities and particular changes in the way U.S. authorities are interpreting laws, say Eric Volkman and Robert Sims, attorneys with international law firm Latham & Watkins.

Read Here – Arabic Knowledge@Wharton

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.