UniCredit’s HVB fined for helping weapons of mass destruction distributor

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UniCredit’s HVB fined for helping weapons of mass destruction distributor

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The logo and lettering of HypoVereinsbank is pictured in Munich, Germany, 29 November 2012. The Hypovereinsbank is allegedly involved in tax evasion: according to legal authorities, the bank cheated the revenuew office by almost 124 million euros. According to reports, more than 60 attorneys, tax investigators and police officers searched the headquarters of the HVB in Munich. Photo: Andreas Gebert | Andreas Gebert/DPA/PA Images

UniCredit has settled with US authorities and agreed to pay about $1.3bn for breaking US sanctions, but the Italian bank said this amount was fully covered by provisions.

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