Deloitte's role cited in Standard Chartered Iran deceit

By REUTERS
August 7, 2012 09:38

 
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NEW YORK - Allegations that a banking unit of Standard Chartered Plc schemed with Iran to conceal billions of dollars in transactions have dragged Deloitte into the spotlight in another hit to the global accounting and consulting firm.

The New York State Department of Financial Services, in a case involving US anti-money laundering laws, on Monday said Deloitte LLP consultants hid details from regulators about Standard Chartered Bank's transactions with Iranian clients.

The bank's actions "left the US financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes," Benjamin Lawsky, superintendent of the department, said in an order made public on Monday.

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