Barbara Linney Comments on Variances in Settlement Amounts to Resolve Sanctions Violations in Global Investigations Review

"Deutsche Bank pays US$258 million for “widespread” US sanctions violations"
Global Investigations Review
11.05.15Barbara Linney commented on variances in settlement amounts to resolve alleged U.S. sanctions violations in light of Deutsche Bank's recent $258 million settlement with the New York Department of Financial Services and U.S. Federal Reserve. Compared to the hefty fines levied on other non-U.S. banks for sanctions violations, the Deutsche Bank settlement seems small; however the penalty amount is linked to the number and value of the transactions involved, Linney said. "The BNP Paribas case reportedly involved more than 190 billion in U.S. dollar payments, whereas the transactions cited in the settlements with Crédit Agricole and Deutsche Bank were valued at US$32 billion and US$10.8 billion respectively." Cooperation also may have played a role in the settlement amount. "For example, lack of cooperation will be an aggravating factor, while cooperation will be rewarded, as appears to have been the case in the Deutsche Bank matter," she added.
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