RBS to pay €72.5m in US sanctions probe

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Independent.ie - 12/11/13

File photo dated 03/12/09 of a woman walking past an RBS sign as Business Secretary Vince Cable has passed evidence of Royal Bank of Scotland's treatment of small businesses to City watchdogs amid allegations that the bank seized assets from firms to benefit its own property empire. PRESS ASSOCIATION Photo. Issue date: Sunday November 24, 2013. See PA story CITY RBS. Photo credit should read: Johnny Green/PA Wire

The bank processed around $34m in wire transfers that violated sanctions against Sudan, Iran, Cuba and Myanmar

Royal Bank of Scotland Group Plc will pay $100m (€72.5m) to resolve U.S. probes into the bank's dealings with Sudan, Iran, and other sanctioned countries, U.S. authorities said on Wednesday.

Between 2005 and 2009, the bank processed around $34m in wire transfers that violated sanctions against Sudan, Iran, Cuba and Myanmar, the Treasury Department said, adding that $32 million of that amount came from Sudan.

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