Commerzbank Admits to Sanctions and Money Laundering Violations, Will Pay $1.45 Billion Penalties!
Posted by William Byrnes on March 17, 2015
“If for whatever reason CB New York inquires why our turnover has increase[d] so dramatically, under no circumstances may anyone mention that there is a connection to the clearing of Iranian banks!!!!!!!!!!!!!.” Why did Commerzbank get off with only $1.45 billion in penalties when BNP paid nearly $9 billion for very similar conduct? See International Financial Law Prof Blog