12 April 2012
Lloyds TSB has agreed to pay out £230 million after helping customers skirt US sanctions on business transactions with Sudan and Iran.
The bank admitted responsibility for criminal conduct based on court documents filed in the US District Court for the District of Columbia.
The Justice Department said as early as 1995, Lloyds falsified wire transfers involving countries or individuals on the US sanctions list.
The bank was accused of deliberately removing customer information so wire transfers would pass undetected through filters at US financial institutions.
