Credit Suisse agreed to pay $536m fine over Iran sanctions


Swiss banking group Credit Suisse has agreed to pay a $536m (£329m) fine for violating US sanctions against Iran.

Settlement papers say Credit Suisse systematically hid the identity of its Iranian clients when moving millions of dollars on their behalf.

The bank is also accused of helping Libya, Sudan and Burma evade sanctions.

The bank said it took the matter seriously and was committed to the highest standards of integrity and regulatory compliance.

Credit Suisse is the second bank to pay hundreds of millions of dollars for helping its clients bypass US laws. Source: BBC