Goldman Sachs has reached an agreement with the US Department of Justice (DOJ) to pay more than US$2 billion for the bank's role in Malaysia's 1MDB scandal, according to reports.

The agreement, which may be announced on Thursday, will allow Goldman Sachs to avoid a US criminal conviction over the scandal, said Bloomberg, citing sources familiar with the matter.

Malaysia has dropped criminal charges against three Goldman Sachs units after the bank agreed to pay US$2.5 billion to settle the probe.