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New York

hrmjustin

(71,265 posts) Tue Aug 19, 2014, 02:42 PM Aug 2014

DFS: Standard Chartered Bank To Pay $300M Fine

Nick Reisman

Standard Chartered Bank will pay a $300 million fine and end its relationship with high-risk clients over failures to enhance money laundering compliance as part of a 2012 settlement, the Department of Financial Services on Tuesday announced.

The order requires the bank to end dollar clearing through its New York branch for high-risk clients at its Hong Kong-based subsidiary.

http://www.nystateofpolitics.com/2014/08/dfs-standard-chartered-bank-to-pay-300m-fine/

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