The US justice department and other authorities have stepped up investigations into several large European banks for violating US sanctions against Iran, Libya, Cuba and Sudan. Some banks have started to discuss settlements with the authorities and could agree to financial penalties by the end of the year, said a person familiar with the probe. A number of the banks, whose names have not been disclosed, came under investigation when they alerted the government to potential violations after a landmark money laundering settlement by ABN Amro in 2005.

This entry was posted by Gwen Robinson on Thursday, August 30th, 2007 at 5:43 and is filed under Capital markets. Tagged with abn amro. Edit this entry.