British Bank Settles Money Laundering Charges
by: Jim Zarroli, NPR, August 15, 2012 3:08:00 am
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Standard Chartered will pay $340 million to settle charges it used its New York branch to hide illegal international transactions. The settlement covers some 60,000 transactions totaling $250 billion, according to regulators. The bank strongly denied the charges at first, but then backed down agreeing to let a monitor oversee its international transactions and pay a fine.
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