Citibank Hit with £4.7M Sanctions Fine | Business and Finance News

Citibank’s London branch just paid a £4.7 million fine for serious sanctions breaches—processing payments that helped sanctioned Russian entities after the invasion of Ukraine. While regulators say it wasn’t intentional, the errors fatally undermined the sanctions’ purpose. This isn’t Citibank’s first rodeo; past warnings and recurring issues made this penalty unavoidable—a stark warning to banks: compliance isn’t optional. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/552df7a2670318bd