British bank Standard Chartered says it expects to “very shortly” pay $330 million to U.S. authorities to settle accusations that it violated American trade sanctions against Iran.

The bank said Thursday the payment would settle claims with the U.S. Justice Department, the Treasury and the Federal Reserve, the country's central bank. The new payment would be on top of $340 million Standard Chartered already paid to New York state authorities earlier this year to resolve charges stemming from the same allegations.

The American authorities accused the Asia-focused bank of hiding about $250 billion in transactions with Iranian banks. The New York bank regulator said the bank kept false records as it handled wire transfers for Iranian clients.

Such money transfers are prohibited by U.S. sanctions aimed at blocking Tehran's nuclear program, which the West says is for production of nuclear weaponry and Iran says is peaceful.