S. Korea Lender Agrees to Settle US Probe Over Payment to Iran

Industrial Bank of Korea, one of South Korea’s largest banks, will pay $86 million to settle US and New York state criminal and civil charges it allowed an illegal transfer of more than $1 billion to Iran that violated US sanctions.
Authorities said…

Industrial Bank of Korea, one of South Korea’s largest banks, will pay $86 million to settle US and New York state criminal and civil charges it allowed an illegal transfer of more than $1 billion to Iran that violated US sanctions. Authorities said on Monday that IBK entered a two-year deferred...