Citibank settles with UK sanctions watchdog

Citibank has agreed to settle with the UK’s sanctions watchdog over allegations that it processed hundreds of prohibited transactions linked to Russia. The bank’s UK arm agreed to pay £4.7 million, equivalent to around $6.3 million, to the Office of Financial Sanctions Implementation (‘OFSI’) following alleged breaches of Russia sanctions worth approximately £19.7 million. OFSI […]Read More