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Keyword: ukbank

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  • British Bank Allegedly Hid $250 Billion in Iranian Transactions

    08/07/2012 3:20:19 AM PDT · by Eleutheria5 · 4 replies
    Arutz Sheva ^ | 7/8/12 | Rachel Hirschfeld
    A major British bank, using its New York operations, “schemed” with the Iranian government for nearly a decade to launder $250 billion, exposing the United States financial system to terrorist entities, drug traffickers and corrupt regimes, New York’s top banking regulator charged on Monday. The New York State Department of Financial Services (DFS) accused Standard Chartered, which the agency called a “rogue institution,” of hiding more than 60,000 transactions for Iranian banks and corporations, motivated by the millions of dollars it reaped in fees, The New York Times reported. The bank’s senior management used the New York branch “as a...