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SocGen Fined $1.3B Over US Sanctions Violations

Law360 (November 19, 2018, 7:21 PM EST) -- Société Générale SA said Monday that it has agreed to pay $1.34 billion in fines as part of settlements with U.S. federal and state authorities to resolve investigations into its processing of transactions involving Cuba, Iran and other targets of U.S. sanctions.

Société Générale SA said Monday that it will pay $1.34 billion to resolve probes into potential U.S. economic sanctions violations. (AP) The deals that Société Générale has reached with prosecutors and regulators put the Paris-based banking giant on the hook for the second-largest total fine ever imposed on a financial institution for U.S. economic sanctions violations, according to federal prosecutors...

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