Societe Generale to pay $1.34 billion fine for sanctions violations - Federal Reserve

WASHINGTON (Reuters) - French banking giant Societe Generale (SOGN.PA) on Monday agreed to pay U.S. federal and state authorities $1.34 billion (1.04 billion pounds) to resolve investigations into its handling of dollar transactions in violation of U.S. sanctions, the Federal Reserve said.

From 2007 and 2012, overseas offices of SocGen processed dollar-denominated funds transfers involving parties subject to the Treasury’s Office of Foreign Assets Control regulations, the Fed said.