S&C Represents The Royal Bank of Scotland in OFAC and Money-Laundering Case (The Am Law Litigation Daily)

May 11, 2010
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The Am Law Litigation Daily highlighted S&C’s representation of The Royal Bank of Scotland N.V. in the resolution of a criminal investigation by the U.S. Department of Justice of RBS N.V.’s predecessor, ABN AMRO Bank, related to U.S. OFAC sanctions and anti-money laundering laws. Pursuant to a deferred prosecution agreement, RBS N.V. paid a $500 million forfeiture. In exchange, the Department of Justice agreed to dismiss the criminal information against RBS N.V. within a year if the bank complies with the agreement’s terms. The article noted that the deferred prosecution agreement highlighted the quality of the bank’s cooperation and the “extensive internal investigation” conducted by S&C.