RBS to Settle Foreign Sanctions Probe for $100 Million

Royal Bank of Scotland (RBS) will pay $100 million to state and federal regulators to settle allegations that it violated sanctions on doing business with Iran, Sudan, Myanmar and Cuba. RBS concealed the identities of clients subject to economic sanctions by removing references to relevant people and places from payment messages sent to U.S. banks, a joint investigation by the Treasury Department, the New York State Department of Financial Services and the Federal Reserve found. The…

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