Top 10 Sanctions Enforcement Actions Since 2012

Sanctions are a critical tool for combatting financial crime and rogue international actors.  Since 2012, some of the world’s most prominent financial institutions have faced staggering penalties for sanctions violations.

Our Top 10 Enforcement Actions, marked by hefty fines and notable names, underscore the serious repercussions of non-compliance.

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💥 BNP Paribas’ Blockbuster Fine (2014): Picture this – a staggering $8.9 billion! This French banking behemoth faced the music for skirting U.S. sanctions against Sudan, Iran, and Cuba. It was more than just a fine; it was a statement.

💥 Standard Chartered’s Billion-Dollar Oops (2019): Crossing the billion-dollar mark, this British bank coughed up $1.1 billion. Why? They got tangled in transactions involving Iran and other sanctioned countries, plus they had some serious gaps in their financial crime defenses.

💥 HSBC Shocker (2012): HSBC was slapped with a $1.9 billion penalty for playing fast and loose with Iran sanctions and anti-money laundering rules.

💥 ZTE’s Costly Call (2017): This isn’t just about banks! ZTE, a Chinese tech giant, found out the hard way that violating U.S. sanctions against Iran and North Korea comes with a hefty price tag – $1.19 billion, to be precise.

💥 UniCredit’s Universal Problem (2019): The Italian banking group UniCredit had to part with over $1.3 billion. Their offense? Dealing with Iran and other sanctioned entities.

💥 Commerzbank’s Compliance Crash (2015): Germany’s Commerzbank faced a harsh penalty to the tune of $1.45 billion for bypassing sanctions involving Iran and Sudan.

💥 Société Générale’s Sanction Slip-Up (2018): The French are back on the list, with Société Générale forking over $1.34 billion for illegal transactions related to Cuba, Iran, and Sudan.

💥 ING’s Iranian Intrigue (2012): ING Bank N.V. made waves with a $619 million fine for dealings with Cuba and Iran.

💥 Crédit Agricole’s Costly Compliance Fail (2015): Another French banking powerhouse, another hefty fine. This time, it was $787 million for violating sanctions against Iran, Sudan, and others.

💥 Clearstream’s Clear Mistake (2014): Rounding off the list is Clearstream Banking of Luxembourg, part of Deutsche Börse. They found themselves $152 million lighter for dabbling in transactions with Iran.