Two French banks are under investigation for alleged money laundering and certain dealings in Iran, Sudan and Cuba that may have violated sanctions, according to an article in the Wall Street Journal.
The U.S. Treasury Department, the Justice Department, the Manhattan district attorney, and the New York Department of Financial Services are looking into Société Générale and Crédit Agricole. The move comes not long after French bank BNP Paribas announced it was setting aside more than $1 billion to pay fines it incurred for violating U.S. sanctions in Iran and Cuba.
Société Générale recently
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