U.S. Money Laundering Fines Seen Rising in 2013 With Iran Focus

The number of U.S. penalties this year against financial firms laundering money will surpass those of 2012 as President Barack Obama’s sanctions against Iran target its currency, according to consultant BankersAccuity.

Following HSBC Holdings Plc’s record settlement with the U.S. and those of Standard Chartered Plc and ING Groep NV last year, the government will take a wider focus including smaller firms, said Henry Balani, managing director at BankersAccuity, whose services include anti-money laundering advice. Firms may pay smaller penalties this year, he said.