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

The Platforms Association launches UK's first transfers charter

The Platforms Association launches UK's first transfers charter

Designed to modernise investment transfers

Sophia Panayi
clock 25 June 2026 • 2 min read
Half of UK advisers cannot see clients' crypto assets

Half of UK advisers cannot see clients' crypto assets

Research from CoinShares

Sophia Panayi
clock 25 June 2026 • 2 min read
SENDA launches first accredited training courses for special needs planning

SENDA launches first accredited training courses for special needs planning

Full certification programme to follow

Sophia Panayi
clock 25 June 2026 • 3 min read