Luxembourg’s Clearstream Banking S.A. fined $152M in US

US Treasury fines Luxembourg Firm for Skirting Iran Sanctions

Clearstream Banking S.A. settled with the US Office of Foreign Assets Control (OFAC) over the allegations to have violated US Iran sanctions regulations. According to the Miami Herald: “Clearstream provided the Government of Iran with substantial and unauthorized access to the US financial system”, OFAC Director Adam J. Szubin said in a statement.

Clearstream Banking will pay $152 million in a settlement according to the linked settlement agreement.

By | 2017-07-16T11:30:27+00:00 January 24th, 2014|