Dodgy dealings in British bank
Wed, 08 Aug 2012 9:19a.m.
NEW YORK: Standard Chartered has settled allegations that it helped Iranian clients dodge U.S. sanctions, announcing a fine of $340 million from a New York banking watchdog.
The "civil penalty" disclosed Tuesday came amid allegations that the London-based bank hid 60,000 transactions with proscribed Iranian clients worth $250 billion over ten years.
Read more: http://www.dailystar.com.lb/Business/International/2012/Aug-15/184743-standard-chartered-reaches-$340-million-settlement-over-iran.ashx#ixzz23c3lamXX
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
With this story, I find it VERY interesting that the fine will be paid to the Regulatory body who was meant to be regulating all of these activities in the first place !!! This particular article does not state this btw. but this was in a TV3 (NZ) report yesterday... but haven't time to find it for you at the moment. Have a look around. The second link above links you to a lot of Finance Stories that our media is running currently. Cheers. Bron.