The British Standard Chartered Bank agreed on Monday to pay $327 million to settle federal and New York charges it laundered money on behalf of four countries that were subject to U.S. economic sanctions.
According to federal authorities, the settlement is part of a deferred prosecution agreement with the Justice Department and Manhattan district attorney. The deal covers currency transactions made at the British bank's New York branch for Iranian, Sudanese, Libyan and Burmese entities that were concealed from regulators.