Bankers beware

Zurich-based financial giant, Credit Suisse, has just agreed to pay $536M to settle a suit brought against it by the U.S. government for violations of U.S. financial sanctions, with the bank having made $1.6 billion in illegal transactions to sanctioned countries including Sudan. The prosecution of cases such as this are an essential component in strengthening the limited number of tools we currently have that lie between “bombing and nothing” when responding to crises like Darfur.