That's what Standard Chartered paid two years ago to New York state for violating our sanctions against Iran and others for 10 years or more. Not only did the bank have to pay a fine but it agreed to weed out transactions prone to money-laundering. Well, they failed to weed out virtually any shaky transactions and will now pay a $300 million fine. Plus, the bank must indefinitely suspend its processing of payments in dollars, a crucial function known as dollar clearing, for “high-risk retail business clients”.
Why is no one looking at a jail sentence?
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