has agreed to pay $298m to US authorities for facilitating payments to countries that were under US sanctions such as Cuba, Iran, Libya, Sudan and Burma.
The charges relate to payments made by the bank between 1995 and 2006. Barclays is alleged to have removed details from payments to hide the identity of the countries of origin.
The bank was charged with breaking the International Emergency Economic Powers Act and the Trading with the Enemy Act in dealings between 1995 and 2006.
The settlement was described in US court papers filed yesterday.
Barclays began cooperating with federal and state prosecutors in 2007.
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