Standard Chartered pays $340M to settle laundering claims

By Wire services | December 10, 2012 | Last updated on December 10, 2012
1 min read

Standard Chartered has reached a deal with federal and state prosecutors over accusations it illegally funneled money for Iranian banks and corporations, reports The New York Times.

The British bank will pay $327 million to settle the claims, which was in line with its expectations. Last week, it predicted a fine of $330 million and said the investigation would soon be resolved.

Read: Standard Chartered accused of money laundering

The current fine follows a $340 million hit this past August, shortly after the bank was accused of “scheming for nearly a decade to hide 60,000 transactions worth $250 billion.”

Read more on the agreement reached.

Also read:

Regulators chided for early strike against Standard Chartered

Clients come first

Revised anti-money laundering regulations (2008)

Print this package: Money laundering

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