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ING pays $619M to settle sanctions evasion case

By Daniel Wagner
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WASHINGTON (AP) — Dutch bank ING Bank NV will pay $619 million to settle charges that it secretly moved billions of dollars through the U.S. financial system on behalf of Cuban and Iranian customers, in violation of U.S. sanctions.

ING intentionally deleted information about thousands of transactions that would have linked the money to sanctioned parties in Cuba, Iran and other countries, the Treasury Department said Tuesday.

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