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BNP -- French Bank Dealing with Genocide Regime

Discussion in 'Issues Around the World' started by ethics, Jun 23, 2014.

  1. ethics

    ethics Pomp-Dumpster Staff Member

    Ahh those ethical French folk...

    Investigators have gathered information detailing how BNP, over a period of more than five years, used regional banks overseas in order to route funds linked to companies and government agencies in Sudan—at a time when the nation was engaged in what the U.S. and others call genocide, these people said.

    Overall, U.S. authorities examined more than $100 billion of transactions that raised suspicions before focusing on about $30 billion they eventually concluded were willfully hidden to avoid detection by U.S. sanctions enforcers, according to people close to the investigation.

    I remember one country scream and whine the most during GWB tenure over Iraq. I think it was France.
    If you think this is just about Sudan:

    A majority of those transactions involved Sudan, though BNP also facilitated such transfers for Iran and other sanctioned countries. Most of the Sudanese transactions were related to oil deals, these people said.

    Welp, so much for ethics and morals.

    BNP Paribas nears up to $9 bln settlement with U.S. authorities: source | Reuters

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