You can choose the size of the video you would like to embed below. Next, copy the embed code that is available in the box below. Paste this code on to your website to display the video.
If you experience problems embedding videos, please contact us.
December 11, 2013 AT 12:57 PM
According to the U.S. Treasury Department, Royal Bank of Scotland violated U.S. sanction laws against Iran and other sanctioned countries. The bank will pay $100 million to resolve U.S. probes into the matter. The Treasury Department said between 2005 and 2009, RBS processed around $34 million in wire transfers, which violated sanctions against Sudan, Iran, Cuba and Myanmar. Authorities said the bank also instructed its employees to remove references to these countries from payment messages to U.S. financial institutions, so that they would be processed. In a statement, the bank said it "acknowledges and deeply regrets these failings." It added that it initiated the investigation, shared information with authorities, and has committed almost $490 million since 2010 to improve its sanctions controls.