Tag: New York State Department of Financial Services

• Monday, December 10th 2012 - 19:38 UTC

  Standard Chartered will pay 327m dollars for violating US sanctions on Iran

  

  Standard Chartered will pay more than 300 million dollars to settle charges it violated US sanctions on Iran, Burma, Libya and Sudan. The UK-based bank has been fined 100m by the Federal Reserve and the Department of Justice seized assets worth 227m, the regulators said.

• Friday, December 7th 2012 - 01:41 UTC

  Standard Chartered ready to settle with US regulators for making business with Iran

  

  Standard Chartered expects to pay 330 million dollars to US regulators to settle claims that it did not comply with US sanctions against Iran. The amount is on top of 340m it paid to New York's Department of Financial Services (DFS) earlier this year.

• Tuesday, August 14th 2012 - 22:01 UTC

  Standard Chartered CEO in US to discuss money laundering allegations

  

  Standard Chartered chief executive is in New York to negotiate directly with the US regulator that accused it of “scheming” to hide 250bn dollars of transactions with Iran. The regulator will hold a hearing on Wednesday to decide whether to revoke the bank's New York banking licence. It is unclear yet whether Peter Sands will attend the hearing.

• Wednesday, August 8th 2012 - 19:41 UTC

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

  

  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.

• Tuesday, August 7th 2012 - 08:19 UTC

  US regulator claims Standard Chartered bank laundered 250bn dollars for Iran

  

  Standard Chartered bank illegally “schemed” with Iran to launder as much as 250bn dollars for nearly a decade, a US regulator says. The New York State Department of Financial Services said that the bank hid 60.000 secret transactions for “Iranian financial institutions” that were subject to US economic sanctions.