British bank accused of hiding transactions with Iranians

+The New York Times reports that New York state’s banking regulator says that Standard Chartered Bank enabled Iranian banks and corporations to hide roughly 60,000 transactions worth at least $250 billion.

The bank “left the U.S. financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes,” the New York State Department of Financial Services said in an order sent to the bank today.

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