403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Halkbank Reaches Deferred Prosecution Deal with US Justice Department
(MENAFN) Turkish state-owned lender Halkbank has reached a deferred prosecution agreement with the US Justice Department, a move that could effectively end ongoing litigation, according to reports.
US Attorney for the Southern District of New York Jay Clayton stated in a letter to US District Court Judge Richard Berman that the department “believes the resolution of these charges against Halkbank on the terms and conditions set forth in the Agreement is in the best interests of the United States.”
He added, "This agreement by Halkbank furthers the United States' compelling interests in combatting terrorist financing and financial support for the government of Iran. Accordingly, this Agreement is strongly in the public interest. The national security and foreign policy interests furthered by the Agreement are unique and extraordinary," citing Turkish diplomatic efforts that helped secure the release of Israeli hostages in Gaza and a 2025 ceasefire in the region.
Under the terms of the agreement, Halkbank will work with a third party to review its sanctions and anti-money laundering compliance programs. A report will then be submitted to the Treasury Department’s Office of Foreign Assets Control and the US attorney’s office to address the conduct described in the superseding indictment.
The deferred prosecution agreement must still receive court approval. Judge Berman scheduled discussion of the matter for a previously planned hearing on Wednesday.
Halkbank confirmed on Türkiye’s Public Disclosure Platform (KAP) that it will not admit to any criminal wrongdoing under the settlement and will not pay judicial or administrative fines.
US Attorney for the Southern District of New York Jay Clayton stated in a letter to US District Court Judge Richard Berman that the department “believes the resolution of these charges against Halkbank on the terms and conditions set forth in the Agreement is in the best interests of the United States.”
He added, "This agreement by Halkbank furthers the United States' compelling interests in combatting terrorist financing and financial support for the government of Iran. Accordingly, this Agreement is strongly in the public interest. The national security and foreign policy interests furthered by the Agreement are unique and extraordinary," citing Turkish diplomatic efforts that helped secure the release of Israeli hostages in Gaza and a 2025 ceasefire in the region.
Under the terms of the agreement, Halkbank will work with a third party to review its sanctions and anti-money laundering compliance programs. A report will then be submitted to the Treasury Department’s Office of Foreign Assets Control and the US attorney’s office to address the conduct described in the superseding indictment.
The deferred prosecution agreement must still receive court approval. Judge Berman scheduled discussion of the matter for a previously planned hearing on Wednesday.
Halkbank confirmed on Türkiye’s Public Disclosure Platform (KAP) that it will not admit to any criminal wrongdoing under the settlement and will not pay judicial or administrative fines.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment