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Standard Chartered to pay $6.3m in U.S., Swiss program deal

(Reuters) – Standard Chartered Bank’s Swiss unit will pay a $6.3 million penalty as part of a deal it reached with the U.S. Justice Department to avoid possible prosecution for helping Americans evade taxes, the department said on Friday.

The bank also agreed to cooperate in any criminal or civil proceedings involving U.S. accounts and to adopt procedures for avoiding future misconduct, the Justice Department said.

The Department, in return, will not prosecute the bank, provided that Standard Chartered fulfills follows the terms, the department said.

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