OFAC Settles with Subsidiaries of Credit Agricole Corporation and Investment Bank

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Friday, October 7, 2022
Author: 
Bruce Zagaris
Volume: 
38
Issue: 
10
Abstract: 

On September 26, 2022, two wealth management subsidiaries of Crédit Agricole Corp. (CASA) agreed to pay more than $1.1 million to settle enforcement cases with the U.S. Treasury’s Office of Foreign Assets Control (OFAC).  The claims concerned alleged illegal transactions in sanctioned jurisdictions, namely Cuba, Syria, Crimea, and Iran.