On October 20, Crédit Agricole Corporate and Investment Bank (CA-CIB), based in France, settled sanctions allegations with the DOJ, OFAC, the Federal Reserve, and New York state authorities. CA-CIB was alleged to have violated US sanctions against Sudan, Iran, Myanmar, and Cuba by “stripping” information related to those countries from payment messages when sending funds transfers through the US financial system. In total, the bank will pay $787.3 million in penalties and forfeiture.
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