(AP) - SANCTIONS EVASIONS: ING Bank agreed to 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.
COOKED BOOKS: ING intentionally deleted information about thousands of transactions that would have linked the money to sanctioned parties, the Treasury Department said.
NO CONTEST: ING agreed not to contest the charges and accepted responsibility for its criminal conduct, the Justice Department said. The bank said it has strengthened its global risk controls since the problems were discovered.
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