U.K. bank accused of Iran scheme

N.Y. investigating money laundering,‘wire stripping’

Posted: August 7, 2012 at 2:40 a.m.

A money changer arranges coins outside a Standard Chartered Bank branch in Karachi, Pakistan, on July 30. New York’s state financial services superintendent on Monday requested that the bank answer questions as part of an investigation into financial transactions between the bank and Iran.

A British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States’ financial system “vulnerable to terrorists,” New York’s financial regulator charged Monday.

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Business, Pages 23 on 08/07/2012


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