Money Laundering :: 2 of 2 (Photo credit: Lachlan) |
Standard Chartered
Lately, a number of high profile companies have become embroiled in allegations that their businesses have either helped facilitate money laundering, or haven't gone far enough in stopping the activity. Most recently, the New York Department of Financial Services (DFS) accused British-based bank Standard Chartered (OTC:SCBFF) of helping facilitate the laundering of as much as $250 billion in Iranian funds. The accusations were far reaching and alleged that Standard Chartered kept false records of its activities, allowed these illegal activities to occur for at least a decade and did so through letting the assets flow through its banking services as illegal wire transfers. ... Continue to read.
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