RBS Pays $100M For Iran, Sudan Transactions

Law360, New York (December 11, 2013, 3:49 PM EST) -- New York regulators and two federal agencies said Wednesday that The Royal Bank of Scotland PLC will pay $100 million to settle allegations that it did business with Iran, Sudan and other regimes subject to sanctions in a deal that appeared to help the financial giant avoid worse criminal jeopardy.

RBS, with $1.85 trillion in assets, conducted more than 3,500 transactions worth more than $500 million through New York banks that involved Sudanese and Iranian customers and beneficiaries, a DFS consent order said. To a lesser...
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