Italy’s UniCredit to pay $1.3 billion to settle U.S. sanctions probe | Reuters


Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday.

In addition, UniCredit Bank AG, the bank’s German unit, agreed to plead guilty to federal and New York state criminal charges for illegally moving hundreds of millions of dollars through the U.S. financial system on behalf of sanctioned entities, the U.S. Department of Justice and Manhattan District Attorney Cyrus Vance Jr. said.

Source: Italy’s UniCredit to pay $1.3 billion to settle U.S. sanctions probe – Reuters

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