Credit Suisse to pay $536m fine over Iran sanctions

Credit Suisse to pay $536m fine over Iran sanctions

news.bbc.co.uk

Swiss banking group Credit Suisse has agreed to pay a $536m (£329m) fine for violating US sanctions against Iran.

Settlement papers say Credit Suisse systematically hid the identity of its Iranian clients when moving millions of dollars on their behalf.

The bank is also accused of helping Libya, Sudan and Burma evade sanctions.

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So how many other banks have done similar?
Which other countries have these banks helped to move money from?

We are all aware of just how corrupt these bankers can be so it may be possible that Credit Suisse is not alone.

536 million USD is just a scratch on the surface of the US debt, but it helps. Not that it will help the average Joe.

Who made the decision to investigate Credit Suisse? How was it discovered? Have any other banks been investigated?

In January, British bank Lloyds-TSB paid a fine of $350m to US authorities after prosecutors accused it of faking records so clients in Iran, Libya and Sudan could do business with US institutions.

Was IBM ever fined for doing business with the Nazis during WW2?

These two banks may be the tip of the ice berg. I just can't help but ask myself if any other US or UK banks have been involved in the same dealings. After all, not every person uses the same bank... and some use multpile banks. You don't put all your eggs in one basket.

Let's get all the banks opened up and investigate the lot of them.
Close them down rather than fine them. The public end up paying these fines through bank charges and interest on loans.

news.bbc.co.uk
(visit the link for the full news article)