Barclays traded with US 'enemies'

Laura Miller
clock • 1 min read

Barclays Bank violated US sanctions in dealings with Cuba, Iran, Libya, Sudan and Burma, court papers have revealed.

It is to pay $298m (£190m) to settle criminal charges that it breached the International Emergency Economic Powers Act and the Trading with the Enemy Act in dealings between 1995 and 2006, the BBC reports. Buried deep in its results published last week, the bank said it had set aside £194m to settle a US-led probe into payments made to countries or people on a sanctions list. In US court documents filed on Monday, Barclays agreed to pay a final settlement of $149m to the US government and a separate $149m in a deferred prosecution agreement with the district attorney in New York. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Castlefield partner expands not-for-profit refill hubs across Cheshire

Feel Good Friday: Castlefield partner expands not-for-profit refill hubs across Cheshire

Project run by Eco Communities

Professional Adviser
clock 15 May 2026 • 1 min read
Closing the advice gap: The case for attitudinal targeted support

Closing the advice gap: The case for attitudinal targeted support

TISA’s Sophie Legrand-Green on a ‘significant’ way to influence consumer behaviour

Sophie Legrand-Green
clock 14 May 2026 • 4 min read
Women in Financial Advice Awards 2026: All the nominations!

Women in Financial Advice Awards 2026: All the nominations!

More than 1,150 women from 450 firms were nominated for WIFA 2026

Professional Adviser
clock 14 May 2026 • 29 min read