In violation of U.S. laws, British bank Standard Charter failed to disclose $250 billion deal with Iran.
By Reuters
New York’s top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a “rogue institution” that hid $250 billion in transactions tied to Iran, in violation of U.S. law.
The New York State Department of Financial Services (DFS) said Standard Chartered “schemed” with the Iranian government and hid from law enforcement officials some 60,000 secret transactions to generate hundreds of millions of dollars in fees over nearly 10 years, also exposing the U.S. Continue Reading »





