Tag Archives: LOUIS

Bankers To Be Held Personally Responsible For Sanctions Violations: Treasury

By The Huffington Post News Editors

ST. LOUIS, March 22 – The U.S. Treasury Department plans to hold bankers personally responsible and subject them to fines when their banks help countries such as Iran evade economic sanctions.

The shift is in line with recently declared intentions also to hold individual bankers liable for failures to prevent laundering of drug money and other criminal proceeds, a Treasury spokesman told Reuters.

The shift, which has yet to result in any actual enforcement action, also comes amid mounting pressure to crack down on banks and bankers for a wide range of financial misdeeds, and end their perceived status as “too big to jail.”

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Source: FULL ARTICLE at Huffington Post