Standard Chartered, NY banking regulator near settlement


Standard Chartered (OTC:SCDRF, OTCPK:SCBFF) is nearing a $200M-$300M settlement with the New York Department of Financial Services over its alleged failure to flag high risk transactions.

The penalty would be the second Standard Chartered has paid to the banking regulator in the last two years. In 2012, the bank agreed to pay a $340M settlement over allegations that it erased identifying information from transactions linked to Iran in order to avoid U.S. detection.

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