Standard Chartered fined $1.1bn for money-laundering and sanctions breaches

Settlements with US and UK authorities force bank to take hit in first-quarter results

Standard Chartered has been ordered to pay $1.1bn (£842m) by US and UK authorities to settle allegations of poor money-laundering controls and breaching sanctions against countries including Iran.

The British bank has agreed to pay $947m to American agencies, including the US Department of Justice, over allegations that it violated sanctions against a string of countries including Iran.

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from US news | The Guardian http://bit.ly/2U2Pubm