UK bank fined in US
Standard Chartered has been fined $300m (£180m) by New York's top banking regulator for failing to improve its money laundering controls.
The BBC reports that the British bank has also been banned from accepting new dollar clearing accounts without approval.
The penalty comes after the bank failed to fix problems identified in 2012. Then Standard Chartered paid a $340m fine with the New York State Department of Financial Services (DFS) after it was accused of hiding $250bn of transactions with Iran.
As part of that agreement an independent monitor was installed at the bank by the DFS, which discovered that Standard Chartered had failed to detect "a large number of potentially high risk transactions".
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