PayPal to pay $7.7 million in U.S. Treasury sanctions case

PayPal, the electronic payments firm, agreed to pay $7.7 million (5.1 million pounds) to settle charges by the U.S. Treasury Department that it violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Treasury said on Wednesday. PayPal, owned by EBay Inc, did not adequately screen its transactions for U.S. sanctions targets for several years through 2013, resulting in 486 apparent violations of U.S. law, Treasury said in a statement. PayPal also dismissed alerts