France's Credit Agricole SA has agreed to pay US authorities $787 million to resolve accusations it illegally moved money through the US financial system in violation of sanctions against Iran, Sudan, and other countries, according to a person familiar with the matter.

The deal is likely to be announced on Tuesday, the person said.

Authorities agreed to enter into deferred prosecution agreements with the bank, another source said.

Under such agreements, banks face enhanced oversight for a certain period of time, typically three years. If they do not abide by the terms of the deal, criminal charges could be filed.

Credit Agricole did not immediately return requests for comment. Representatives of the US Department of Justice, US Treasury Department, Manhattan District Attorney's office and New York Department of Financial Services declined to comment.

Credit Agricole is the latest foreign bank to resolve investigations in US sanctions-busting. All told, about a dozen international banks, mostly European, have been stung by US penalties totaling $14 billion since 2009 for such violations.

Banks typically stripped information on wire transfers to the United States so payments connected to Iran or other sanctioned entities would not be detected.

Credit Agricole was accused of violating US sanctions against Iran, Sudan, Myanmar and Cuba between 2003 and 2008, the first source said.

Italy's UniCredit SpA, France's Societe Generale , and Germany's Deutsche Bank AG are still under investigation, sources told Reuters.

BNP Paribas, France's largest bank, last year paid a record-breaking $8.9 billion in penalties and pleaded guilty to criminal charges over sanctions-busting. It also was banned from conducting certain US dollar transactions for a year. – Reuters