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Midweek Roundup: Standard Chartered Faces New Sanctions Allegations, Mexico Weighs Tougher AML Penalties for MSBs, and More
printStandard Chartered Bank processed transactions involving Iran and sought new Iranian clients after deciding in 2007 to terminate business with the Persian nation, the Financial Times reported, citing confidential documents which suggest the lender had yet to determine the full extent of its Iran-linked portfolio when it settled U.S. sanctions violations in 2012. More An ongoing U.S. investigation into alleged sanctions violations by Standard Chartered could drive other banks away from Iran despite an expected rollback of economic restrictions targeting the Islamic Republic, the Independent said. More The U.K. Office of Financial Sanctions is slated to begin operations in April 2017, Out-Law.com reported...
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