Global Investigations Review - The law and practice of international investigations

Sanctions

ING 2012

July 03, 2014, JUST SANCTIONS

In June 2012, Dutch lender ING Bank agreed to pay $619 million to settle US government allegations that it violated US sanctions against Cuba, Iran and...

BNP Paribas braces for record-breaking sanctions fine

BNP Paribas braces for record-breaking sanctions fine

June 30, 2014, JUST SANCTIONS

French bank BNP Paribas will today plead guilty to violating sanctions, pay an US$8.9 billion fine, and will be forced to suspend its ability to process US dollar transactions, according to reports

OFAC enforcer joins A&O

OFAC enforcer joins A&O

June 11, 2014, JUST SANCTIONS

Days after concluding her last US sanctions investigation with a US$21 million settlement, OFAC office of enforcement chief Maura Rezendes has joined Allen & Overy in its Washington, DC office.

Fokker settles "egregious" sanctions violations

Fokker settles "egregious" sanctions violations

June 06, 2014, JUST SANCTIONS

A US subsidiary of Netherlands-based aircraft company Fokker has admitted to knowingly violating US sanctions following a “vast” internal investigation by Clifford Chance, and has agreed to pay a US$21 million fine.

BNP Paribas proposes handling all dollar transactions in New York

BNP Paribas proposes handling all dollar transactions in New York

May 16, 2014, JUST SANCTIONS

French bank BNP, currently facing a large sanctions fine for alleged sanctions violations by its foreign subsidiaries, plans to overhaul the way it processes payments in US dollars.

Guilty plea or DPA, France unlikely to take action against BNP Paribas

Guilty plea or DPA, France unlikely to take action against BNP Paribas

May 13, 2014, JUST SANCTIONS

French bank BNP Paribas is currently negotiating an agreement with US authorities to settle charges that it violated US sanctions, but criminal action in France is unlikely, say observers, despite possible interest from French authorities.

CWT settles over potential sanctions violations

CWT settles over potential sanctions violations

April 23, 2014, JUST SANCTIONS

Dutch travel company CWT's US$6 million settlement with the US Treasury's Office of Foreign Assets Control (OFAC) illustrates the importance of catching and reporting potential sanctions issues as early as possible.

Will ‘contract sanctions’ harm London as an arbitration venue?

Will ‘contract sanctions’ harm London as an arbitration venue?

March 14, 2014, JUST SANCTIONS

The UK government has been seeking comments on a proposal to prevent contracts between companies and countries that are the target of international sanctions from being enforced in national courts.

UK discusses contract sanctions

UK discusses contract sanctions

February 26, 2014, JUST SANCTIONS

The UK’s Foreign and Commonwealth Office (FCO) is seeking comments on the potential creation of ‘contract sanctions’, which would prevent contracts between companies and sanctioned regimes from being enforced in national courts.

BNP Paribas reserves US$1.1 billion for US fines

BNP Paribas reserves US$1.1 billion for US fines

February 14, 2014, JUST SANCTIONS

French bank BNP Paribas has set aside US$1.1 billion to settle US fines, the company said in a quarterly report.