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ING to pay $619 million over Cuba, Iran sanctions Jun 12, 2012   NEW YORK (Reuters) - ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries. It was the biggest ever fine against a bank for sanctions violations. U.S. authorities said ING moved $1.6 billion illegally through banks in the United States from the early 1990s through 2007 by concealing the nature of the transactions. According to authorities, ING eliminated payment data that would have revealed the involvement of sanctioned countries and entities. ...     print     email to friend

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