Anti-Money Laundering & Counter Financing of Terrorism Practices Assignment, ICTA, Malaysia Describe the breaches of US sanctions committed by ABC in respect of the three (3) sanctioned countries
In early 2023. ABC Banking Corporation (ABC), a global financial institution has agreed to enter a guilty plea with the US authorities and consented to pay almost USD8 billion in order to resolve admitted violations of US sanctions against Sudan, Cuba, and Iran. ABC had admitted to unlawfully opening the doors of US financial markets …