Dutch Bank ING Fined for Ties with CubaJune 13, 2012 | Print |
HAVANA TIMES — The US Treasury Department fined the Dutch bank ING $619 million for facilitating commercial transactions with Cuba and Iran, reported Europa Press.
Along with financial penalties, ING must conduct an internal review of its operations, policies and practices to demonstrate to Washington that this type of conduct by its employees will not be repeated.
Assistant Attorney General for National Security Lisa Monaco stated that this penalty is the “largest ever imposed” on a bank in connection with an investigation for violating US sanctions.
The Cuban media denounced the measure as part of the “interventionist and extraterritorial” policies of the US, which are condemned by a large majority at the UN.