Standard Chartered to pay $6.3m to US Justice Department in Swiss deal
Standard Chartered will pay a $6.3m (£4.14m) fine to the US Department of Justice to avoid possible prosecution for helping American clients of its Swiss private banking unit to evade taxes. The bank's Swiss unit held 22 US-related accounts since 2008, which included assets totalling $33.1m, according to the Justice Department. The bank will also cooperate in any criminal or civil proceedings involving US accounts and to adopt new procedures to avoid future misconduct. Standard Chartered closed its Swiss private banking business in early 2014. 

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.

Standard Chartered settled under a voluntary program the Justice Department launched in 2013 to allow Swiss banks to resolve potential criminal charges by disclosing cross-border activities that helped U.S. account holders conceal assets.

Under the program, banks also must provide detailed information on the accounts of U.S. taxpayers under investigation. Banks that were already under criminal investigation were excluded from the program.

"We're pleased to have reached a resolution as part of this program," a Standard Chartered spokeswoman said.

The bank's Swiss unit held 22 U.S.-related accounts since Aug. 1, 2008, which included assets totaling $33.1 million, the Justice Department said.

Standard Chartered closed its Swiss private banking business in early 2014.

(Reporting by Suzanne Barlyn; Editing by Andrea Ricci)

By Suzanne Barlyn