The Traderszone Network

Published in TZ Latest News 11 August, 2014 by The TZ Newswire Staff

Exclusive: Standard Chartered to scour records for money laundering, with penalty at stake

Because Standard Chartered (STAN.L) clears about two million U.S. dollar transactions each month, the process of poring through the data will be “a huge piece of work” that could take months, said one of the sources. Both sources spoke on condition of anonymity as they are not authorized to speak publicly about the matter.As previously reported by Reuters, holes in the British bank’s anti-money laundering net were uncovered by a monitor imposed by the New York Department of Financial Services (DFS) in 2012.

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