NY state fines PwC, suspends consulting

New York –New York state on Monday fined Pricewaterhouse Coopers $25 million and suspended some consulting work for two years after finding the company hid a Japanese bank’s US sanctions violations. Bank of Tokyo-Mitsubishi UFJ, Japan’s biggest lender, pressured PwC to scrub a report on wire transfers the bank submitted to regulators to hide its dealings with blacklisted Iran, Myanmar and Sudan