Iran has been reported to use accounts at two major UK banks, Lloyds Banking Group Plc and Santander UK Plc, to evade international sanctions. These banks provided accounts to British front companies secretly owned by a sanctioned Iranian petrochemicals company. Following these reports, shares of Santander and Lloyds fell, with Santander's shares dropping over 5%. This incident recalls the Deferred Prosecution Agreement in which HSBC paid $1.256bn to the US Department of Justice in 2012 for similar misconduct. Notably, Lloyds' current CEO, Charlie Nunn, was previously with HSBC but only joined Lloyds in 2011. The Commons Treasury Committee is set to cross-examine ministers and various agencies on Tuesday to investigate how this breach occurred.
Santander, Lloyds shares hit by report Iran used accounts to evade sanctions https://t.co/5hTZ4IZvLZ https://t.co/BNpfkdRwO9
Iran Used Santander, Lloyds to Evade Sanctions, FT Says https://t.co/fZ5wquS87M
Santander, Lloyds shares fall on report Iran used banks to evade sanctions https://t.co/6MvcKBNPF6
💥 SANTANDER, LLOYDS FALL AFTER REPORT IRAN USED THEIR ACCOUNTS TO EVADE SANCTIONS Shares of Santander $SAN fall over 5% after the Financial Times reported sanctioned Iran used accounts from Santander UK and Lloyds $LLOY to covertly move money around the world Santander is the… https://t.co/wrwltQDVsg
About that Iran sanctions thing: Santander Uk & Lloyds were used by companies to bypass sanctions, writes the FT. Surely, it's because it's very hard to find the real beneficaries of those companies & links to Iranian regime? I mean look at this chart (FT). Err... A quick thread https://t.co/o7G4os2owB
Shares in Santander, Lloyds fall after report Iran used banks' accounts to evade sanctions https://t.co/ru9kcxoNph https://t.co/xjG2T7Ecyg
⚠️ SHARES IN SANTANDER, LLOYDS FALL AFTER REPORT IRAN USED BANKS' ACCOUNTS TO EVADE SANCTIONS (Reuters) Shares in Santander and Lloyds fell after the Financial Times reported that Iran used accounts from two of the UK's biggest banks to covertly move money around the world as… https://t.co/RCUPI7RgFD
Lloyds and Santander UK provided accounts to British front companies secretly owned by a sanctioned Iranian petrochemicals company based near Buckingham Palace, according to documents seen by the FT https://t.co/OKyFFpym9S https://t.co/kfVlP4hZ7j
Iran raised HUNDREDS of MILLIONS in cash for the IRGC using British banks: Surprised? “Iran used two of the UK’s biggest banks: Lloyds & Santander UK, to covertly move money around the world as part of a vast sanctions-evasion scheme backed by Tehran’s intelligence services.” https://t.co/31WAxCuqND
“Iran evaded sanctions and was able to covertly move money around the world using accounts at two of the UK’s biggest banks, Lloyds Banking Group Plc and Santander UK Plc” Imagine Russia’s sanctions evasion schemes. https://t.co/6TRCdHVX40
Iran evaded sanctions and was able to covertly move money around the world using accounts at two of the UK’s biggest banks, Lloyds and Santander UK, the Financial Times reports https://t.co/6GjTX8g9zw
How Iran was able to use accounts at Lloyds and Santander UK to get around sanctions. Story with @sjhmorris and @LOS_Fisher https://t.co/fF4N2zpSII
"Iran used Lloyds and Santander accounts to evade sanctions" (FT) Worst case: HSBC paid $1.256bn in Deferred Prosecution Agreement with US DoJ in 2012, but $HSBA has big USD business; Lloyds does not (NB. $LLOY CEO Charlie Nunn was at HSBC, but only joined in 2011) https://t.co/Rh8JPGbDnK https://t.co/dtPcVH8Hf4
"Iran used Lloyds and Santander accounts to evade sanctions" (FT) Worst case: HSBC paid $1.256bn in Deferred Prosecution Agreement with US DoJ in 2012, but $HSBA has big USD business; Lloyds does not (NB. $LLOY CEO Charlie Nunn was at HSBC, but only joined in 2014) https://t.co/YEgmhx3eyU https://t.co/dtPcVH8Hf4
1/. Incredible story from @ft about how Iran is STILL using the City of London to cash-flow terror So: on Tuesday, @CommonsBTC is cross-examining ministers, Companies House, National Crime Agency, HMRC & SFO to explain how the hell this happened https://t.co/J17TyqO6yp
Iran used UK banks Lloyds and Santander accounts to evade sanctions: FT Oh, and Iran didn't use bitcoin, FYI @SenWarren https://t.co/tiz2yKaCue https://t.co/7AOMjl2OgQ
#Iran used Lloyds and Santander accounts to evade sanctions - https://t.co/D4eXkoKhwJ
Iran used Lloyds and Santander accounts to evade sanctions via @FT Santander, ah hem … who’da guessed it? #Iran #Santander https://t.co/dX6sSvaaMk
Iran used Lloyds and Santander accounts to evade sanctions https://t.co/5Fe1gFFCIy