Standard Chartered, a major British bank, is facing renewed allegations of facilitating transactions for terrorist organizations.
Court documents filed in New York claim the bank processed over $100 billion in transactions between 2008 and 2013, violating sanctions on Iran.
Key Points:
- The bank allegedly conducted these transactions despite red flags indicating potential ties to terror groups like Hezbollah, Hamas, al-Qaeda, and the Taliban.
- Standard Chartered previously avoided prosecution in 2012 after the then-British government intervened.
- The bank has admitted to breaching sanctions against Iran but denies connections to terrorist funding.
New Evidence:
Whistleblowers, including a former bank executive, claim they uncovered hidden transactions exceeding $9.6 billion linked to individuals and companies designated by the US as terror financiers.
An independent expert analyzed the bank’s spreadsheets and identified “cloaked” transactions potentially involving sanctioned entities.
Whistleblower Retaliation Claims:
The whistleblowers allege US authorities downplayed their findings and made false statements to dismiss their claims for a reward.
The Situation:
These allegations raise questions about the bank’s activities and the effectiveness of anti-money laundering efforts.
Further investigation is needed to determine the validity of the claims.
