# In an op-ed, Profs Roy Smith & Ingo Walter discuss the implications of US sanctions on global banks

1 Faculty News June 26, 2014 ![The Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/con_035942.jpg?itok=sIDv5_PG)>

Excerpt from [The Wall Street Journal](http://online.wsj.com/articles/roy-smith-and-ingo-walter-getting-serious-about-sanctions-busting-banks-1403823813) -- "The U.S. prosecution of a major international bank for evading sanctions has changed the game. BNP allegedly stripped out identifying information from wire transfers to disguise sanctioned countries as origins or destinations of international payments. By raising the cost of violating the rules to significant levels, the Justice Department has ensured that U.S. sanctions will be complied with and effective."

[Read more](http://online.wsj.com/articles/roy-smith-and-ingo-walter-getting-serious-about-sanctions-busting-banks-1403823813)