BNP shares drop on news of $10bn fine sought by Justice Department

Fine sought to settle sanctions charges would be more than five times the $1.9bn agreement it reached with HSBC in 2012

The US Justice Department is reportedly pushing for a $10bn fine to be levied against BNP Paribas to settle charges that the French bank flouted economic sanctions against Iran, Sudan and other countries.

The potential fine, first reported by the Wall Street Journal, is likely to be accompanied by an admission of wrongdoing and comes amid a crackdown on banks by the Justice Department.

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via Business Feeds

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