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Standard Chartered to pay $327 million to resolve U.S. sanctions case

• Reuters

The U.S. Justice Department and the New York District Attorney's office on Monday said the bank moved millions of dollars through the U.S. financial system in violation of sanctions laws, most of it on behalf of customers in Iran and Sudan.


The fine was on top of a separate payment of $340 million made in August by Standard Chartered to New York's state banking regulator over Iranian sanctions.


Taken together, the two penalties could almost wipe out the bank's profit growth this year. Nevertheless, its shares nudged higher after Monday's announcement, which was in line with guidance by the bank last week.

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