On April 20, 2020, the Industrial Bank of Korea (IBK) agreed to pay $86 million to settle the U.S. and New York state criminal and civil charges brought by the Manhattan U.S. Attorney's Office that it allowed an illegal transfer of more than $1 billion to Iran, violating U.S. sanctions. In a new video, partner Jeffrey Alberts shares his thoughts on the lessons that financial institutions can learn from this settlement.
To watch the video, click here.
Originally published 22 April, 2020
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