US probing Standard Chartered for accounts held in Dubai | GulfNews.com:
"US authorities are investigating London-based Standard Chartered Plc for potential US sanctions violations connected to its banking for Iranian-controlled entities in Dubai, according to people familiar with the probe.
The latest investigation involving the bank is based, in part, from evidence that emerged during a separate probe of BNP Paribas, the French bank that pleaded guilty this summer to charges related to sanctions-busting and agreed to pay $8.9 billion (Dh32.68 billion) in penalties, the people said.
During the course of the BNP case, US federal and state investigators received evidence the French bank had done business with a Dubai-registered corporation that was a front for an Iranian entity, one source said. Investigators also learnt that the company used to have an account with Standard Chartered, according to the source."
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