Camstoll in the News

Rivals assess benefit of clearing BNP’s dollar transactions

By Camilia Hall and Sam Fleming

…The New York Department of Financial Services said on Monday that it had installed a monitor at BNP who will perform a review to “help inform the potential imposition and degree of similar penalties by DFS at other banks – where appropriate”. “Big picture, it’s definitely uncharted territory,” said Howard Mendelsohn, managing director at The Camstoll Group and a former sanctions expert at the US Treasury. “Many will be looking at BNP through a different lens, though the lead time to prepare gives them a chance to design and strengthen programmes that may work.”

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