RBS, Commerzbank Under Scrutiny Over Iran Dealings

Law360, New York (August 22, 2012, 7:18 PM EDT) -- Royal Bank of Scotland Group PLC and Commerzbank AG are under investigation for activities that potentially violated U.S. sanctions on Iran, according to documents and reports, the latest companies facing possible fines under international efforts to squeeze Iran's economy.

In an Aug. 10 regulatory filing, RBS said it was reviewing business dealings outside the U.S. involving the processing of American currency payments, and that it's meeting with U.K. and U.S. authorities regarding compliance with applicable laws, including “U.S. economic sanctions regulations” against an unspecified country. The...
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