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In carefully worded statement British bank rejects money laundering claims by US regulator

Wednesday, August 8th 2012 - 19:41 UTC
Full article 5 comments

As British bank denies accusations it hid 250 billion dollars in transactions with Iranian banks, its share price falls sharply. Standard Chartered has rejected a US regulator's claim that it hid 250 billion dollars in transactions with Iranian banks in violation of US sanctions. Read full article


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  • Englander

    The US is always on the look out to rob large foreign multi nationals.

    BP, Glaxo, HSBC, Credit Suisse and now Standard Chartered.

    Hope Standard Chartered sues the hell out of this New York Regulator Perhaps the UK and EU regulators should now take a look at some of the US multi nationals with operations here.

    If the US hates Iran that much then it should do something about it but please don't ask the UK for military support.

    Aug 09th, 2012 - 09:46 am - Link - Report abuse 0
  • GeoffWard2

    The IMF estimates that financial institutions around the globe will eventually have to write off $1.5 trillion of their holdings of subprime MBSs. That's $1,500,000,000, for a start.
    The knock-on costs to the world for the destruction of lives and livelihoods may be hundreds, thousand or millions of times higher.

    It seems about time that the Bank of England (or ano) made a super-claim against eg Fanny May & Freddie Mac.
    Then all the other culpable US banks can also be made pay for their responsibility.
    (see Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis. 2008).

    Just a thought, following the US focus on litigations against the 'foreigners' and their very obvious unwillingness to 'see the beam in their own eye'.

    Aug 09th, 2012 - 10:23 am - Link - Report abuse 0
  • DanyBerger

    Well I guess that UK banks should be close watching by SA regulators because they seem to be really corrupted organisations.

    I would not be surprise if they hold account from drug dealers from some hot trafficking countries.

    After all Britons use their own Royal Navy to bring cocaine from Colombia to EU.

    No subjects to be trusted to be living under the rule of law i guess.

    Aug 09th, 2012 - 12:41 pm - Link - Report abuse 0
  • Englander

    Thanks, I'll have a look at that. I remember at the time, Gordon Brown appeared to wholly blame the US for the crisis.

    Aug 09th, 2012 - 01:19 pm - Link - Report abuse 0
  • GeoffWard2

    What Brown was to blame for was his refusing to see the giant train coming down the tracks at the UK and refusing, accordingly, to act.
    If you refuse to even try to protect your country from outside influences, you should be immediately removed and replaced with those that try.

    Aug 09th, 2012 - 04:41 pm - Link - Report abuse 0

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