Worldwide:
Alberts Comments On Industrial Bank Of Korea's Recent $86 Million Settlement
25 May 2020
Pryor Cashman LLP
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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
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
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