USA and SocGen agree $1.34bn DPA over sanctions violations

Société Générale SA has entered into a 3-year Deferred Prosecution Agreement (DPA) with the USA over sanctions violations; namely, for processing (between 2004 and 2010) US dollar transactions involving countries, persons or entities subject to US sanctions. Under the DPA, SocGen has agreed to pay penalties totalling $1,340,165,000, and to implement remedial measures as required by its regulators. The penalty comprises:

We reported in September 2018 that SocGen had allocated approximately €1.1 billion ($1.3 billion) to the matter. Link to SocGen Press Release.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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