The fine is related to a nearly five-year-old probe of potential U.S. sanctions violations tied to its banking for Iran-controlled.
London-based Standard Chartered is expected to pay slightly more than $1 billion to resolve a nearly five-year-old investigation of potential U.S. sanctions violations tied to its banking for Iran-controlled entities in Dubai, as well as a related U.K. probe, according to a person familiar with the matter.Standard Chartered has been operating under deferred prosecution agreements with U.S. authorities since 2012, when it paid $667 million for illegally moving millions of dollars through the U.S.
The expected total payout also covers a roughly $134 million penalty from Britain's Financial Conduct Authority related to historical financial crime controls.The U.S. Department of Justice, the U.S. Attorney's office in Washington, the Federal Reserve, the Manhattan District Attorney and the New York Department of Financial Services also declined to comment. The FCA also declined to comment.
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