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Banks pay up

July 24, 2020

Foreign banks have paid $36 billion in fines to the United States since 2008, most of those levied for handling Iranian banking transactions in violation of US sanctions, according to a tabulation compiled by the firm Fenergo.  In 2019, the penalties totaled $10 billion, with 12 of the world’s 50 largest banks penalized, and Swiss banks paying half the total assessed.

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