Reuters, 6 August 2014 – Standard Chartered PLC (STAN.L) is back in the crosshairs of New York`s banking regulator over alleged failure to flag high risk transactions for further review, according to a person familiar with the matter.
The British bank is in discussions with the New York Department of Financial Services over a possible penalty, said the person, who was not authorized to speak publicly and so declined to be identified.
The penalty is likely to be somewhere between $100 million and the $340 million the bank paid the regulator two years ago, the person said.
In August 2012, Standard Chartered agreed to pay $340 million to the regulator over stripping information from transactions linked to Iran so they would not be detected by U.S. bank filters.
Standard Chartered may face new penalty over failure to flag risky transactions: source
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