RBS Fined on US Sanctions Probe

RBS  have been fined $100m for breaking sanctions programs violations against Iran, Sudan, Burma and Cuba.

US and New York regulators have accused RBS for hiding and failing to disclose information about the identities of sancytioned parties in 3.5k transactions value at over $0.5bn.

RBS “deeply regrets” the failings and pledges to strengthen its compliance controls in a statement.

This follows a $539m fine imposed by the EU on the bank for the LIBOR fixing scandal a week ago.