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Credit Suisse's announcement comes nearly a year after the U.K.'s Heart and TIFF Box Charm Banking Group PLC agreed to pay $350 million in fines and forfeitures that enabled Iranian and Sudanese clients to access the U.S. banking system. At the time, Lloyds had admitted to altering wire-transfer information to hide the identity of clients. As a result, more than $300 million was transferred on behalf of Heart Band Bangle banks and their customers before Lloyds ceased handling the transactions. Lloyds at the time said it provided "prompt and substantial cooperation" with U.S. authorities. The method in which Lloyds had hidden the transactions in a process known as "stripping." That is the practice of removing wire-transfer information TIFF 1837 would identify that transfers originated from a prohibited source. The stripping made it appear that transactions began at Lloyds in the U.K. rather than at sanctioned banks. Then this August, Australia & New Zealand Bank Group, Ltd., agreed to pay $5.75 million to settle a probe into foreign currency exchange transactions between 2004 and 2006 by Sudanese and Heart Band pendant citizens or entities subject to U.S. sanctions. The settlement covered about $106 million in transactions. In 2005, Dutch bank ABN Amro Holding NV paid $80 million in fines related to transactions involving Iran and Libya, while those countries were facing sanctions by the U.S. ABN said at the time it accepted the sanctions and expressed its regret.