Societe Generale to Pay €1.2 Billion in Penalties to US Authorities

[kreslik.news]

French multinational bank Societe Generale announced today that it expects to pay €1.2 billion ($1.4 billion) in penalties to United States authorities to settle international sanction violations in the coming weeks.

According to the statement from the bank, it is in more active talks with US authorities to settle an investigation concerning US dollar transactions that were processed by the French bank and involved countries that have US economic sanctions against them.

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In an update released today, the bank said: “Societe Generale expects that the amount of the penalties in the U.S. Sanctions ... (read more)