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All tagged Standard Chartered
◢ A pair of Standard Chartered Plc bankers in Dubai went a long way to protect the lucrative business of a prized Iranian client. Now the cost of their actions is clear: The London-based bank just agreed to fines and penalties of more than USD 1 billion for failing to stop and disclose its work with the Iranian and several others.
◢ Standard Chartered will pay USD 1.1 billion to settle charges it processed transactions that violated US sanctions on Iran and other prohibited countries, US regulators announced Tuesday. The penalty covers some USD 600 million in US transactions from 2008 to 2014 that originated at Standard Chartered's London and Dubai offices.
