Reuters first to report Standard Chartered to pay over $1 billion for sanctions violations

Reuters was first to report that London-based Standard Chartered was expected to pay just over $1 billion to resolve a years-long investigation of potential U.S. sanctions violations tied to its banking for Iran-controlled entities, as well as a related U.K. probe – news which was confirmed the following day. The settlement by the London-based bank is among the most severe imposed for sanctions violations, some of which occurred not long after Standard Chartered settled similar charges in 2012.