Standard Chartered Bank, a multinational bank headquartered in the United Kingdom, agreed to pay sanctions (including fines and forfeiture) in excess of US $1.1. billion to resolve US federal, state and local charges, as well as charges by the UK Financial Conduct Authority, for violating various US government sanctions programs, as well as for poor anti-money laundering controls. Among other matters, SCB was alleged to have violated sanctions programs administered by the Office of Foreign Assets Control of the US Department of Treasury against Burma, Cuba, Iran, Sudan and Syria. This happened when SCB purportedly processed over 9,300 transactions to or through the United States from June 2009 through May 2014 totaling in excess of US $437 million involving expressly sanctioned persons or countries. Most of the allegedly problematic conduct involved Iran-related accounts maintained at SCB’s Dubai branch. In addition to paying sanctions, SCB agreed to “sustain its commitment” to having robust compliance procedures, including having a management team that “is committed to a culture of compliance.” In addition to the FCA allegations, SCB also settled allegations with the US Department of Justice’s Money Laundering and Asset Recovery Section and the US Attorney's Office for the District of Columbia; the Board of Governors of the Federal Reserve System; the Office of Foreign Assets Control of the US Department of Treasury; the New York State Department of Financial Services; and the New York County District Attorney’s Office.