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.