BNP Paribas may soon find out the cost of allegedly violating US sanctions: about $10 billion. The US Justice Department is reportedly close to levying the biggest fine ever paid by a single bank against the French financial institution for doing business with countries like Sudan and Iran. The size of the punishment would far outstrip Credit Suisse’s $2.5 billion fine for helping Americans evade taxes. Like Credit Suisse, BNP is expected to plead guilty to criminal charges.
Soccer’s international governing body had a really bad weekend. Twelve days before FIFA kicks off the world’s largest sporting event in Brazil, the New York Timespublished details of alleged match fixing in the run up to the last World Cup in South Africa. Then the Sunday Times (paywall: see the Guardian) released the latest and most damningly detailed report of corruption in Qatar’s successful bid to host the 2022 World Cup.