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MUFG to Pay $8.6 Million in US Sanctions Case

Photo: TOSHIFUMI KITAMURA | AFP | Getty Images

Japan's Mitsubishi UFJ Financial Group said it will pay $8.6 million as a settlement for transactions that could be seen as violations of U.S. sanctions.

The Yomiuri daily said that MUFG's core Mitsubishi UFJ Bank reported to U.S. officials that it found it had sent funds on behalf of customers to firms in Iran, Sudan, Myanmar and other countries on the U.S. sanctions list.

Standard Chartered agreed to pay $327 million to resolve allegations that it violated U.S. sanctions, on top of a $340 million fine in August on Iranian sanctions.