All eyes were on Barclays today after it emerged that Credit Suisse (CS) was set to join Lloyds in paying massive fines in the US over claims it helped Iran evade sanctions to access Wall Street markets.

CS said it may pay $536 million (£327.6 million), more than double the $250 million Lloyds settlement early this year for similar acts and far outweighing ABN Amro’s $80 million fine.

Barclays, which has admitted it is also under investigation, declined to comment, but has previously said claims could be “substantial”.

In a bid to calm nerves about further potential fines, Lloyds today issued a statement saying it did not expect to make any more payments, although it is still in talks with the US Office of Foreign Assets Control over the issue.

The vast scale of the CS fine left investors concerned about future actions by the US authorities into other European banks.

There are believed to be about nine major European banks under investigation over the issue. They have been probed for allegedly stripping wire transfer information to conceal illegal money transfers.

http://www.thisislondon.co.uk/standard-business/article-23784787-barclays-sweats-as-sanction-busting-banks-get-hit-by-fines.do