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  1. #1
    Thailand Expat Jesus Jones's Avatar
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    U.K. bank accused of laundering money for Iran through U.S.

    Oh, how ironic!


    ALBANY, New York A British bank schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States financial system "vulnerable to terrorists," New York's financial regulator charged Monday.

    State Financial Services Superintendent Benjamin Lawsky signed an order that requires Standard Chartered Bank to answer his questions following an investigation into "wire stripping," which is the process of removing crucial identifiers in financial transactions.

    The bank, well known globally, conspired with its Iranian clients to route nearly 60,000 U.S. dollar payments through Standard Chartered's New York branch "after first stripping information from wire transfer messages used to identify sanctioned countries, individuals and entities," according to the agency's order.

    The order claims the transactions provided the bank with millions of dollars in fees at a time when such trade was restricted.

    U.K. bank accused of laundering money for Iran through U.S.
    You bullied, you laughed, you lied, you lost!

  2. #2
    I am in Jail
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    the bank is Standard Chartered Bank,

    another shit storm on the way for European banks,

  3. #3
    ENT
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    Amazing, not owned by Jews out to screw America. Wow.

  4. #4
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    Quote Originally Posted by ENT View Post
    Amazing, not owned by Jews out to screw America. Wow.
    It's a bank, they screw everyone bar their shareholders.

  5. #5
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    Well that story has died a quick death.

    Standard Chartered has agreed to pay $340m to settle allegations that it hid $250bn in transactions with Iran from New York state regulators in violation of US sanctions.
    The settlement was announced on Tuesday by New York's Department of Financial Services (DFS) and came less than 24 hours before the London-based bank was scheduled to defend itself against the allegations at a hearing in the US.
    Under the terms of the settlement, the bank agreed to its transactions being monitored for two years and to appoint auditors to investigate compliance with US sanctions.
    The Treasury Department told the AFP news agency that the settlement would not halt its own investigation.
    "Our investigation continues. Treasury will continue working with our regulatory and law enforcement partners to hold Standard Chartered accountable for any sanctionable activity that occurred," an official said.
    The Department of Justice said it would also continue to "determine what actions might be appropriate".
    Standard Chartered said its decision to agree to pay the $340m was a pragmatic one made in the best interest of shareholders and customers.
    A spokesman for the bank said it remained in talks with other US regulators and that an announcement on the timing of any resolutions would be made in due course.
    'Rogue bank'
    Although the agreed upon cash settlement may appear to be steep, it is far from the worst-case scenario for the bank.
    The DFS on August 6 branded Standard Chartered as a "rogue bank" and threatened to revoke its licence.
    Since the allegations became public just over a week ago, the firm's shares have lost about 15 per cent of their value.
    The allegations also thrust Standard Chartered into the centre of a major geopolitical dispute.
    In the last decade, the US and its allies have ramped up sanctions against Iranian banks, institutions and individuals, accusing them of helping the government seek a nuclear weapons, repress rights and fund terrorism.
    US authorities accused Standard Chartered of throwing the doors of the financial system wide open to "terrorists, weapons dealers, drug kingpins and corrupt regimes".

  6. #6
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    Considering the Federal reserve launders money for the biggest terrorist organisation on the planet they have a fcuking nerve whining on about a British bank dealing with Iran. just who the f@ck is the USA to dictate just which countries another sovereign state can and cannot deal with ?

  7. #7
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    Iran's stated Enemy Number One is not the US. It's not even Israel.
    It's Britain.

    The US is not dictating to anybody. It's called (mutual) diplomatic and economic sanctions that a Brit bank thumbed it's nose at to make a few bucks. And then, like a bunch of amateur idiots, got caught.

    Very poor form.

  8. #8
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    ^^Get the quote right.

  9. #9
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    Quote Originally Posted by Panty Hamster View Post
    Iran's stated Enemy Number One is not the US. It's not even Israel.
    It's Britain.

    The US is not dictating to anybody. It's called (mutual) diplomatic and economic sanctions that a Brit bank thumbed it's nose at to make a few bucks. And then, like a bunch of amateur idiots, got caught.

    Very poor form.
    care to enlighten us idiots just how the UK is enemy number one and the USA and Israel good friends then ?
    I think you need to learn to walk on your hands as you appear to talk out of your arse !
    The USA is fast becoming the bully boy of the world and it doesn't do it by MUTUAL agreement it does it by sanctions and where that fails they simply invade or bomb the fcuk out of the country that refuses to tow the official USA line.
    Treat everyone as a complete and utter idiot and you can only ever be pleasantly surprised !

  10. #10
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    Quote Originally Posted by Panty Hamster View Post

    The US is not dictating to anybody. It's called (mutual) diplomatic and economic sanctions that a Brit bank thumbed it's nose at to make a few bucks. And then, like a bunch of amateur idiots, got caught.

    .
    Is this extreme naivety, lazy thinking, result of brainwashing, limited intellectual resources, deliberate denial or what?

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