London-based Standard Chartered PLC has agreed to pay $1.1 billion to U.S. and British authorities for illegal financial transactions involving Iran and other sanctioned countries.
The U.S. state and federal authorities said a former banker at the Dubai branch pleaded guilty in New York state court in connection with the conspiracy to violate sanctions.
The bank paid U.S. authorities $667 million in 2012 for illegally moving millions of dollars through the U.S. financial system on behalf of customers in Iran, Sudan, Libya and Myanmar.
The bank agreed to enter into amended deferred prosecution agreements with the U.S. Justice Department and the Manhattan District Attorney for conspiring to violate sanctions and falsifying New York business records.
The agreements will run through April 2021.
