Citigroup has agreed to pay the Justice Department and US attorney’s office in Boston $97.44m to settle an investigation into money laundering, write Emily Glazer and Telis Demos for The Wall Street Journal.

Under the terms of the agreement, Citi admitted that its Banamex USA unit violated the Bank Secrecy Act from at least 2007 until at least 2012. The bank said it was "pleased to resolve these matters".