Barclays has agreed to pay $298m to US authorities to settle investigations relating to transactions that the bank facilitated between countries facing US sanctions including Cuba, Iran, Libya, Sudan and Burma, reports the FT. Barclays is the latest European bank to be hit with such charges. Lloyds, its UK rival, and Credit Suisse have reached similar settlements over the past year. The Telegraph adds that Barclays is understood to have voluntarily disclosed information on the dealings to the authorities.

This entry was posted by Gwen Robinson on Tuesday, August 17th, 2010 at 4:44 and is featured in The 6am Cut London (17 Aug 2010), The Lunch Wrap (17 Aug 2010) . Tagged with barclays, credit suisse, Lloyds Banking Group, sanctions. Edit this entry.