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Mon 08 Aug 2010Barclays fined for breaking sanctions
Barclays Bank has agreed to pay $298 million to settle criminal charges that it violated US sanctions through dealings with banks in Cuba, Iran, Libya, Sudan and Burma, according to court documents filed today.
The London-based bank was charged with violating the International Emergency Economic Powers Act and the Trading with the Enemy Act as a result of $500 million in illegal transactions from 1995 through 2006, according to the documents.
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