French bank Credit Agricole will pay a $787 million fine and install an independent monitor to resolve charges it violated American sanctions on Iran and other countries, regulators in the United States announced Tuesday, according to AFP.
Regulators charged Credit Agricole with intentionally mislabeling thousands of transactions during 2003-2008 to disguise from regulators payments and transfers from parties in Iran, Sudan, Myanmar and Cuba that were sanctioned under United States law.