Lloyds Agrees To $217M Deal Over Iran Transactions

Law360, New York (December 22, 2009, 5:47 PM EST) -- Lloyds TSB Bank PLC has agreed to a $217 million fine for manipulating money transfers in a bid to help customers avoid sanctions placed on Iran, Sudan, Libya and other countries, the U.S. Department of the Treasury's Office of Foreign Assets Control announced Tuesday.

The British bank had entered into a $350 million deferred prosecution agreement with the U.S. Department of Justice and the New York County district attorney's office on similar charges in January. Lloyds' $217 million fine will be considered paid because of the...
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