Sanctions for the Violation of Sanctions: Businesses on US Treasury Radar

... Countermeasures” In 2018, the French bank Societe Generale agreed to pay the US Treasury the highest fine, almost $54 million. The Treasury accused the French bank of conducting over a thousand transactions that violated the sanctions regime against Cuba, Iran and Sudan worth $5.5 billion during 2007-2012. The American regulator also established a number of aggravating circumstances including some of bank employees’ awareness of possible violations of the US sanctions, ignoring “alarm signals” (such ...