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U.K., French Banks Named In Probe Of Iran Sanction Violations

The U.S. Department of Justice has named Britain's HSBC and Standard Chartered and France's BNP Paribas in its investigation of banks that may have violated sanctions that bar doing business with Iran.

The U.S. Department of Justice has named Britain's HSBC and Standard Chartered and France's BNP Paribas in its investigation of banks that may have violated sanctions that bar doing business with Iran. The three banks are the latest financial institutions linked to such violations. The Dutch bank ABN Amro has already paid $80 million penalty, and the Swiss bank UBS has agreed to cut ties with Iran, after paying a $100 million penalty in 2004 for its business relationships with Iran, Cuba, Libya and Serbia, The Independent reports.

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