A Second Look at the Standard Chartered Accusations

Wednesday, August 08, 2012

Yesterday, New York's top banking regulator accused the British bank Standard Chartered of secretly helping the Iranian government to launder billions of dollars. Standard Chartered has denied the accusations, saying 99 percent of the transactions in question complied with regulations.

Now other authorities investigating the bank are questioning just how expansive Standard Chartered's mistakes were.

Ben Protess is a business reporter with The New York Times. Pat McFadden is a British Labour member of parliament.


Pat McFadden and Ben Protess

Produced by:

Elizabeth Ross

Comments [1]

Larry Fisher from Brooklyn, N.Y.

I wonder if Standard, chartered a boat to carry all the dirty money to overseas accounts.

The only mistake Standard Chartered made is that they got caught and as long as their punishment is less than what they earned by doing the wrong thing, all Bankers and Financial people will continue to do business as usual.

I am curious as to how many American Bankers and Financial people are working out of England. Every time I talk to someone who works in Finances, they keep talking about Americans overseas working in England

I wonder if Standard, chartered a boat to carry all the dirty money to overseas accounts.

Aug. 08 2012 10:39 AM

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