So says the US government as they hit the English financial giant with a $298M fine for being dicks. And criminal ones at that.
From the WSJ: “In a settlement with U.S. and New York prosecutors made public Monday, the London-based bank agreed to pay $298 million to settle criminal charges. And it acknowledged that its employees, between 1995 and 2006, helped banks Iran, Cuba, Libya, Myanmar and Sudan evade U.S. regulations prohibiting payments into the U.S.”
So Braclays was actively helping foreign governments circumvent economic sanctions? Why does Barclays hate America?
Their violations were apparently pretty egregious as “Barclays included instructions for processing payments to the U.S. from foreign banks to avoid detection.” Wow, instructions for how to break our laws. Nice going guys.
Money was also laundered by the little Barclays patch that appears on every Premier League jersey.
Not really. We’re not even sure how you’d launder money via a league sponsorship, but we take small pride in being way ahead of the curve on bashing Barclays (suck it).
Now we feel even better about it knowing that all along they’ve been helping the terrorists win.