BREAKING NEWS

U.S. officials in contact with New York on Standard Charter

AUGUST 7, 2012 20:12

WASHINGTON - The White House said on Tuesday that the US Treasury Department is in close contact with New York authorities on accusations that Standard Chartered Plc hid $250 billion in transactions tied to Iran.

"Sanctions violations are something that this administration takes extremely seriously and has a strong record of action to this end. The Treasury Department remains in close contact with both federal and state authorities on this matter," White House Press Secretary Jay Carney told reporters when asked the London-based bank.

Carney said that he would not comment further on what is considered an ongoing investigation.

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