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.
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In January, British bank Lloyds-TSB paid a fine of $350m to US authorities after prosecutors accused it of faking records so clients in Iran, Libya and Sudan could do business with US institutions.
The US government has the power to take proceedings against foreign financial institutions – even for actions involving other countries – if they do some of their business in America.
US government papers filed in the latest case said: “Credit Suisse’s internal communications showed a continuous dialogue about evading US sanctions spanning approximately a decade.” 
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