US regulators have re-opened their original inquiries into Standard Chartered to determine whether the lender intentionally withheld information from regulators before the 2012 settlements.
The bank settled with the US Department of Justice (DOJ) and New York’s Department in Financial Services (DFS) in 2012, but may not have revealed the true extent of its illegal dealings with Iran, The New York Times has reported.
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According to the report, during an investigation into another bank, US regulators had found evidence of transactions that Standard Chartered did not disclose.
Now, the DOJ and DFS, as well as Manhattan’s District Attorney, are conducting the investigation.
The British bank has already paid more than $667m to a range of US regulators for breaking sanctions against Iran.
Standard Chartered said in an e-mailed statement: "Improvement of our sanctions and anti-money laundering systems and training is a top priority for the bank and will remain so."
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By GlobalDataHowever, the bank refused to comment on the reports that it is receiving fresh scrutiny from regulators.
In August, the bank agreed to pay $300m to DFS for failure to flag suspicious transactions as needed by the 2012 deferred prosecution agreement.
In addition, Standard Chartered allowed an independent monitor to oversee the bank to ensure it complies with sanctions and anti-money laundering rules, which were installed in 2012.
