On December 16, 2009, OFAC, the Department of Justice, and the New York State District Attorney’s Office announced that Credit Suisse AG had settled allegations by state and federal agencies that it intentionally structured transactions in order to allow Iranian, Libyan, Sudanese and other clients subject to US sanctions to access the US financial system. From 2002 to 2006, Credit Suisse processed over US$700 million in payments that violated US sanctions and processed over US$1.1 billion in payments that had been manipulated to hide their Iran-originating status. Credit Suisse agreed to a US$536 million settlement with New York State and the US Government. As part of the settlement, Credit Suisse entered into deferred prosecution agreements and pledged to adhere to best practices for banking transparency and cooperate with ongoing probes.