Whistleblowers accuse Standard Chartered of $57bn in Iran deals | Financial Times:
Standard Chartered has been accused of handling $56.8bn of dollars in allegedly illegal transactions with Iran-connected entities in a civil suit brought by whistleblowers against the bank.
The whistleblowers allege StanChart cleared far more transactions in violation of Iran sanctions between 2009 and 2014 than the US government used as the basis for fines paid by the bank in April.
The new claim filed on Thursday piles further legal woes on the emerging markets bank which has been hit with a series of penalties by US law enforcement and regulators in the past seven years for lax financial controls and for handling transactions for companies in Iran and other sanctioned countries.
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