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Clifford Chance

Briefings

US Court Ruling Against Chinese Banks in Sanctions Case Reaffirms Government Subpoena Authority to Require Non-US Banks to Produce Documents and Information Held Overseas

24 July 2019

A recent US court ruling reinforces the well understood rule that non-US banks with branches or correspondent accounts in the US must comply with US government subpoenas regardless of their own country's laws. Under the US PATRIOT Act, non-compliance risks access to the US financial system. 

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