=== cut === Standard Chartered Bank has agreed to pay $300 million and enact several business changes because of anti-money laundering compliance failures.
The settlement, which was announced by the New York State Department of Financial Services, will require the bank to take several steps, including the exit of certain high-risk client relationships in the United Arab Emirates. === cut === HSBC submitted to oversight from the monitor as part of a $1.9 billion settlement that saw the bank enter into a deferred prosecution agreement with the DOJ.
The settlement came after allegations that the British bank failed to track at least $881 million in money laundered from Mexican drug traffickers between 2006 and 2010, and another $660 million in funds laundered from Cuba, Iran, Libya, Sudan and Burma, according to court documents. === cut ===
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timeasmymeasure
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Date: 2015-08-21 09:17 pm (UTC)=== cut ===
Standard Chartered Bank has agreed to pay $300 million and enact several business changes because of anti-money laundering compliance failures.
The settlement, which was announced by the New York State Department of Financial Services, will require the bank to take several steps, including the exit of certain high-risk client relationships in the United Arab Emirates.
=== cut ===
HSBC submitted to oversight from the monitor as part of a $1.9 billion settlement that saw the bank enter into a deferred prosecution agreement with the DOJ.
The settlement came after allegations that the British bank failed to track at least $881 million in money laundered from Mexican drug traffickers between 2006 and 2010, and another $660 million in funds laundered from Cuba, Iran, Libya, Sudan and Burma, according to court documents.
=== cut ===