On the subject of Barclay\’s being fined for handling transactions with people/countries on the US no trade list:
Does banking have any ethics at all?
Barclays is understood to have voluntarily disclosed information on the dealings to the authorities after it became aware it might have broken sanctions.
As well as co-operating with the US investigation, the bank ran an internal inquiry into transactions conducted between January 2000 and July 2007.
This saw more than 175 current and former Barclays employees interviewed and in excess of 100m records examined.
Disclosures from Barclays\’ own investigation led to the bank being charged by the US Department of Justice with one count of violating the International Emergency Powers Act and another of trading with the enemy.
I dunno about you but I\’d take \’fessin\’ up to having been a naughty boy as being ethical, yes.