ING to pay $619 million over Cuba, Iran sanctions

NEW YORK (Reuters) - ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries. It was the biggest ever fine against a bank for sanctions violations. U.S. authorities said ING moved $1.6 billion illegally through banks in the United States from the early 1990s through 2007 by concealing the nature of the transactions. According to authorities, ING eliminated payment data that would have revealed the involvement of sanctioned countries and entities. ...

NEW YORK (Reuters) - ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries.

ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries.

ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries. It was the biggest ever fine against a bank for sanctions ...

ING Bank NV agreed to pay US$619-million to settle U.S. government allegations that it violated U.S.

ING Bank has agreed to pay a $619 million fine after admitting that it helped cover up billions of dollars in fund transfers that violated U.S. sanctions against Cuba and Iran.

ING Bank has agreed to pay a $619 million fine after admitting that it helped cover up billions of dollars in fund transfers that violated U.S. sanctions against Cuba and Iran.

Dutch bank ING will pay $619 million to settle US government accusations that it violated sanctions banning transactions with Cuba, Iran and others, the Treasury Department said Tuesday.The settlement is the largest settlement of any kind with the Treasury's Office of Foreign Assets Control (OFAC) to date, the Treasury said."ING Bank's apparent violations, which totaled more than $1.6 billion routed through the United States despite US sanctions, arose out of policies at multiple offices of ING Bank's Wholesale Banking Division," it said in a statement.