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
- 43 TV shows to watch in 2014
- Here comes the Pentagon's newest space plane
- Extreme haunted houses: Inside Halloween's most terrifying new trend
- 6 things the happiest families all have in common
- The real story behind Deliver Us From Evil
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Everything you need to know about the voter ID controversy
- America's anti-feminist mega-corporations' toxic disregard for women must stop
- How 1,000-year lifespans could remake the economy
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
Subscribe to the Week