US to fine French bank BNP 7.4 billion euros for sanctions-busting, report
The French bank BNP faces a 7.4-billion-euro fine in the United States for breaking sanctions on Iran, Sudan and Cuba, anonymous sources have told the US media.
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The American Justice Department is seeking to press criminal charges against the French bank over violation of money transfers for countries under US sanctions.
Negociations are taking place between the bank and the US Justice Department, as BNP wants to pay less than 5.8 billion euros, according to the Wall Street Journal.
The US investigation covers the bank's activity in 2002-2009.
The BNP could be temporarily denied the right to transfer money into and out of the US and could risk its US banking license, The Wall Street Journal reports.
It is the first time in 20 years a major bank has been convicted on criminal charges in the US.
In Paris shares in BNP Paribas plunged 5.89 per cent to 49.55 euros on Friday morning.
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