The British bank Standard Chartered agreed to pay USD 327 million in a settlement with the U.S. Federal Reserve Board, the U.S. Treasury, the DoJ and the District Attorney for New York County. In August 2012, the bank accepted a USD 340 million fine imposed by the recently created New York Department of Financial Services. Standard Chartered was accused of violating US sanctions against Iran and conducting money laundering activities for residents of Iran. According to the Department of Financial Services, the violations of Standard Chartered involved more than 60,000 transactions which occurred from 2001 to 2008 and involved a total of USD 250 billion transferred into Iran.