Barclays Bank Agrees to Deferred Prosecution and $298 Million Forfeiture for Sanctions Violations

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Friday, October 1, 2010
Author: 
Bruce Zagaris
Volume: 
26
Issue: 
10
Abstract: 
On August 16, 2010, Barclays Bank PLC entered into a Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice and agreed to forfeit $298 million as a result of violating the U.S. economic sanctions administered by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury concerning Cuba, Iran, Libya, Sudan and Burma...(more)...