The U.S. Federal Reserve and the Department of Justice are investigating Royal Bank of Scotland Group PLC (RBS.LN) for possible breaches of Iran sanctions after the bank gave them and U.K. regulators information some 18 months ago, the Financial Times reported Tuesday on its website, citing several people close to the situation.

RBS declined to comment, but referred to its half-year report where it said it "has initiated discussions with U.K. and U.S. authorities to discuss its historical compliance with applicable laws and regulations, including US economic sanctions regulations," the FT reported.

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