March 17, 2010 MIAMI, - Wachovia Bank has agreed to pay $160 million to settle U.S. charges that it failed to stop more than $100 million of Colombian and Mexican drug traffickers' money being laundered through accounts at the bank, U.S. authorities said Wednesday.

The deferred prosecution agreement announced in Miami, which included a $50 million fine to be paid to the U.S. Treasury, was the largest penalty ever imposed for a violation of the U.S. Bank Secrecy Act, U.S. Attorney for the Southern District of Florida Jeffrey H. Sloman told reporters.

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