By Maya Lester KC & Michael O’Kane

Intesa Sanpaolo SpA fined $235m for sanctions/AML violations

Italy’s largest retail bank, Intesa Sanpaolo SpA, has agreed to pay a $235million fine to the New York State Department of Financial Services for sanctions and anti-money laundering violations dating back a decade or more (press release here).  The bank is said to have failed to effectively operate its transaction monitoring system and processed numerous suspicious transactions involving shell companies…....

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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