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Standard Chartered to pay penalty for failing to improve money laundering controls

The British Bank Standard Chartered has to pay a fresh penalty of USD 300mn to New York’s banking regulator for failing to improve its money laundering controls. The bank has also been banned from accepting new dollar clearing accounts without

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Standard Chartered to Pay $330 Million in Iran Settlement

British bank Standard Chartered expects to pay $330 million to settle claims by United States government agencies that it had moved hundreds of billions of dollars on behalf of Iran. Standard Chartered, which earns most of its profit in Asia,

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Standard Chartered Shares Bouncing Back Up

Shares of Standard Chartered Bank (SCB) price went up by almost 8% following a plummet of 16.43% late on Tuesday. The bank lost 8.2bn Euros of its value following the allegations from the US treasury for scheming with Iran to

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UK bank accused of Iran money laundering

According to New York’s financial regulator, Standard Chartered Bank schemed with the Iranian government to launder $US250 billion from 2001 to 2007, leaving the United States’ financial system “vulnerable to terrorists”. The  State Department of Financial Services has labelled UK-based Standard

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