“Standard Chartered has been fined $300m (£181m) and agreed to cut off dealings with certain customers for failings that could have seen the bank process illegal transactions from sanctioned states.
New York's Department of Financial Services (DFS) announced the penalty - the second in three years the bank has paid related to international sanctions - on Tuesday evening.
On top of the fine, the British bank will suspend dollar clearing transactions from high-risk clients in Hong Kong and exit certain relationships with certain customers from its United Arab Emirates offices.
Additionally, new clients who want to open US dollar accounts will have to be approved by the DFS.”
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