British Bank Settles Money Laundering Charges

by Jim Zarroli, NPR

Standard Chartered will pay $340 million to settle charges it used its New York branch to hide illegal international transactions. The settlement covers some 60,000 transactions totaling $250 billion, according to regulators. The bank strongly denied the charges at first, but then backed down agreeing to let a monitor oversee its international transactions and pay a fine.

Broadcast Dates

• Morning Edition, August 15, 2012