Standard Chartered is in talks with New York’s main banking regulator to settle allegations it failed to notice suspicious transactions.
The FT reports the talks come only two years after StanChart vowed to improve procedures after being fined for violating sanctions rules.
The New York Department of financial Services could announce a settlement as early as this week with StanChart also likely to agree additional measures such as extending the contract of an independent monitor tasked with spotting dubious transactions.
The latest investigation is a follow up to 2012’s settlement which saw the bank pay $667m for failing to notice prohibited transactions with Sudan, Iran, Libya and Myanmar.
The latest allegations relate to failures to spot potentially illegal payments as a result of failings in its anti-money laundering checks.