Albany, New York, Muharram 22, 1437, Nov 4, 2015, SPA -- Deutsche Bank has agreed to pay $258 million to settle legal problems stemming from U.S. sanctions violations, New York regulators said Wednesday, AP reported. Under the settlement, Deutsche Bank will dismiss six people, ban three others from duties involving U.S. operations and install an independent monitor, according to New York's Department of Financial Services. The six are two managing directors, two directors and two vice presidents. It will pay $200 million to the department and $58 million to the Federal Reserve. "We are committed to investigating and pursuing sanctions violations and money laundering at financial institutions," department Superintendent Anthony Albanese said. "To truly deter future wrongdoing, it is important to focus not just on corporate accountability, but also individual accountability." The German bank processed nearly $11 billion in payments through its New York branch from 1999 to 2006 on behalf of Sudanese, Iranian, Burmese, Libyan and Syrian entities, the department said. Staff overseas removed some identifying information before passing U.S. dollar payments along to the U.S. branch for clearing, according to investigators. Deutsche Bank was pleased to reach the resolution, spokeswoman Renee Calabro said Wednesday. "The conduct ceased several years ago, and since then we have terminated all business with parties from the countries involved," she said. Two weeks ago, the department announced a settlement for more than $787 million with Credit Agricole for similar violations. The French bank processed more than $32 billion in payments through its New York branch between 2003 and 2008 on behalf of Sudanese, Iranian, Burmese and Cuban entities, regulators said. -- SPA 23:41 LOCAL TIME 20:41 GMT www.spa.gov.sa/w