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Swiss banking giant Credit Suisse on Tuesday said it expects to pay a 536 million dollar fine to end a probe by US authorities over Iran sanctions violations.
Credit Suisse said it was in settlement talking that involved US bank regulators, the US Justice Department and New York state officials.
"The discussions relate to a previously disclosed investigation into US dollar payments during the period 2002 to April 2007," the banking firm said.
"As part of the settlement, Credit Suisse is likely to pay a total of 536 million dollars combined."
Credit Suisse said it had already made policy changes to come into compliance with US sanctions including closing its representative office in Tehran.
"Credit Suisse has previously disclosed the investigation by US authorities and that it was conducting an internal review into certain US dollar payments involving countries, persons or entities that may be subject to US economic sanctions," the firm said.
Credit Suisse added that it had exited "the business in question" in December 2005 and launched "an extensive independent investigation into the Zurich-based payment activity and other practices.
"Credit Suisse has enhanced its procedures to prevent practices of this type from occurring in the future."
