November 19, 2018 / 5:36 PM / a month ago

Societe Generale to pay $1.34 bln fine for sanctions violations - Federal Reserve

WASHINGTON, Nov 19 (Reuters) - French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.34 billion to resolve investigations into its handling of dollar transactions in violation of U.S. sanctions, the Federal Reserve said. From 2007 and 2012, overseas offices of SocGen processed dollar-denominated funds transfers involving parties subject to the Treasury's Office of Foreign Assets Control regulations, the Fed said. (Reporting by Katanga Johnson)

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