Standard Chartered bank
7 August 2012. New York’s Financial Regulator has accused Standard Chartered PLC, a US unit of the London based bank of conniving with Iranian authorities to hide illegal transactions amounting to more than $250 billion. The Regulator has asked Standard Chartered unit to show cause why it should be allowed to operate in the United States at a 15 August 2012 hearing. The ongoing investigations also found that the bank had conducted business with other U.S. sanctioned countries, such as Libya, Burma and Sudan. Burma is now known as Myanmar.
