ABC News: U.S.: NY Regulator Accuses Bank of Iran Money Laundering

ABC News: U.S. // via fulltextrssfeed.com

NY Regulator Accuses Bank of Iran Money Laundering Aug 6th 2012, 16:14 New York's financial regulator accuses a London-based bank of scheming with the Iranian government to launder $250 billion. State Financial Services Superintendent Benjamin Lawsky signed an order that requires Standard Chartered Bank to answer his questions following an investigation. A request for comment from the bank wasn't immediately returned Monday. The order claims that for nearly seven years, the bank worked with Iranian-government owned banks and other Iranian entities to hide 60,000 transactions worth $250 billion. If proven, the scheme would violate state money-laundering laws.

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