The New York State Department of Financial Services (DFS) issued orders on August 6 for an investigation to be initiated of Standard Chartered PLC (LON:STAN) (LON:STAC), which was suspected of money laundering for Iran.
According to the orders, ‘For almost ten years, SCB schemed with the Government of Iran, and hid from regulators roughly 60,000 secret transactions, involving at least $250 billion, and reaping SCB hundreds of millions of dollars in fees. SCB’s actions left the U.S. financial system vulnerable to terrorists, weapons dealers, drug kingpins, and...


