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New York may suspend Standard Chartered over Iran dealings
Source: Reuters
New York may suspend Standard Chartered over Iran dealings
Mon Aug 6, 2012 12:31pm EDT
(Reuters) - A "rogue" Standard Chartered Plc banking unit violated U.S. anti-money laundering laws by scheming with Iran to hide more than $250 billion of transactions, and may lose its license to operate in New York State, a state banking regulator said on Monday.
Benjamin Lawsky, superintendent of the state's department of financial services, said Standard Chartered Bank reaped hundreds of millions of dollars of fees by scheming with Iran's government to hide roughly 60,000 transactions over nearly a decade.
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Mon Aug 6, 2012 12:31pm EDT
(Reuters) - A "rogue" Standard Chartered Plc banking unit violated U.S. anti-money laundering laws by scheming with Iran to hide more than $250 billion of transactions, and may lose its license to operate in New York State, a state banking regulator said on Monday.
Benjamin Lawsky, superintendent of the state's department of financial services, said Standard Chartered Bank reaped hundreds of millions of dollars of fees by scheming with Iran's government to hide roughly 60,000 transactions over nearly a decade.
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Read more: http://www.reuters.com/article/2012/08/06/us-standardchartered-iran-idUSBRE8750VM20120806
