Standard Chartered has reached a deal with federal and state prosecutors over accusations it illegally funneled money for Iranian banks and corporations, reports The New York Times.
The British bank will pay $327 million to settle the claims, which was in line with its expectations. Last week, it predicted a fine of $330 million and said the investigation would soon be resolved.
Read: Standard Chartered accused of money laundering
The current fine follows a $340 million hit this past August, shortly after the bank was accused of “scheming for nearly a decade to hide 60,000 transactions worth $250 billion.”
Read more on the agreement reached.
Also read:
Regulators chided for early strike against Standard Chartered
Revised anti-money laundering regulations (2008)