New York regulator reaches $340m settlement with Standard Chartered

The New York bank regulator has reached a $340 million settlement with British bank Standard Chartered.

Standard Chartered has agreed to install a monitor for money laundering controls for at least the next two years.

Advertisement

Standard Chartered settlement

British bank Standard Chartered has reached a $340m settlement with the New York bank regulator. The settlement follow allegations the bank hid $250bn of transactions with the Iranian government, breaking US sanctions. The bank rejects the claims.