Barclays Bank PLC, a United Kingdom corporation headquartered in London, has agreed to forfeit $298 million to the United States and to the New York County District Attorney’s Office in connection with violations of the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA), both of which make it a crime to willfully violate (or attempt to violate) any regulation issued under the Acts.
The violations, announced in an Aug. 18 press release issued by the U.S. Department of Justice, relate to transactions Barclays illegally conducted on behalf of customers from Cuba, Iran, Sudan, and other countries sanctioned in programs administered by the Office of Foreign Assets Control (OFAC). A criminal information was filed Aug. 16 in the U.S. District Court for the District of Columbia charging Barclays with one count of violating the IEEPA and one count of violating the TWEA.
