On Monday, regulators in New York charged British bank Standard Chartered with helping Iranian banks and companies hide some $250 billion in financial transactions, in a bid to skirt tough sanctions intended to isolate Iran over its suspected nuclear weapons program. Describing the bank as a "rogue institution," authorities said Standard Chartered had made hundreds of millions of dollars in fees by helping Iran evade the sanctions. Furthermore, Standard Chartered "left the U.S. financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes," regulators said. Standard Chartered said it was reviewing the charges and cooperating with authorities.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- How academia's liberal bias is killing social science
- 43 TV shows to watch in 2014
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Why Pakistan won't hunt down the terrorists within its borders
- Pope Francis' American problem
- Alien conspiracy theorists think the government is on the verge of spilling big secrets
- Vox, derp, and the intellectual stagnation of the left
- A brief history of the Christmas present
- Sorry, GOP, tax cuts don't pay for themselves
- Diagnosing the Home Alone burglars' injuries: A professional weighs in
Subscribe to the Week