Treasury Says Turkish Trading Co. Violated Iran Sanctions

Law360, New York (September 26, 2013, 6:55 PM EDT) -- The U.S. Treasury Department slapped a Turkish securities trading company with a $750,000 fine for violating the U.S. sanctions against Iran by trying to process multiple monetary transfers through U.S. financial institutions for clients in the Middle Eastern nation, the department said Thursday.

The company — Finans Kiymetli Madenler Turizm Otomotiv Gida Tekstil San. Ve Tic — tried processing transactions totaling $257,808  through unspecified U.S. financial companies for Iranian customers, including an oil and gas development company in the Islamic republic, the Treasury’s Office of Foreign Assets...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.