Foreign Exchange Rates

CRDB Bank Advert_070325

Selcom Pesa Advert_110225

Selcom Pesa Advert_110225

Standard Chartered Advert_300125

Standard Chartered Advert_300125

Saturday, 26 July 2014

BANK OF AMERICA PAYS $16.6M TO SETTLE SANCTIONS ALLEGATIONS

Bank of America's banking unit agreed to pay $16.6m to resolve allegations that it processed transactions for drug traffickers who are subject to U.S. sanctions, the U.S. Treasury Department said on Thursday.
Bank of America spokesman Lawrence Grayson said the settlement concluded a matter the bank addressed in 2009 by improving its sanctions-related systems and controls.
In announcing the settlement, OFAC said it determined that 79 transactions the bank processed after October 2006 constituted an 'egregious' case, because the bank knew of a problem with its screening tool, but didn't fix it until more than two years later.
To access the complete Reuters article hit the link below:

No comments:

Post a Comment