October 16, 2018 / 3:43 PM / a month ago

U.S. Fed says terminates 2013 enforcement action against RBS group for sanctions lapses

FILE PHOTO: Royal Bank of Scotland signs are seen at a branch of the bank, in London, Britain December 1, 2017. REUTERS/Peter Nicholls/File Photo

WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday that it terminated a 2013 enforcement action against Royal Bank of Scotland Group (RBS.L) for sanctions lapses in its foreign operations.

Between 2005 and 2009, the bank processed around $34 million in wire transfers that violated sanctions against Sudan, Iran, Cuba and Myanmar, the Treasury Department said in December 2013.

The Fed said the agreement in which it fined RBS as of Tuesday had been terminated.

Reporting by Katanga Johnson; Editing by Michelle Price

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