This week, Standard Chartered Bank signed a new deferred prosecution agreement and agreed to pay more than $1 billion in fines and forfeitures. This latest scandal evolved because, while the bank negotiated its earlier admission of guilt for intentionally violating sanctions against Iran and other nations, two of its officers on the SALES SIDE OF […]

In court, Zarrab laid out how he paid tens of millions of dollars in bribes to Turkish government officials and banking executives to win their assistance—and cover—for the money laundering operation. He dropped a bombshell on his second day of testimony, when he implicated Erdogan as part of the scheme, saying he was told Turkey’s […]

The Financial Action Task Force (FATF), the intergovernmental organization that sets global standards to combat money laundering and finance for terrorism and proliferation, had a clear message for financial institutions last week when it declined to remove the Islamic Republic of Iran from its high-risk blacklist: Iran may say it’s open for business but it’s […]

On 16 January 2016, the European Council lifted all nuclear-related economic and financial EU sanctions against Iran following verification by the International Atomic Energy Agency that Iran had implemented all nuclear-related measures agreed in a Joint Comprehensive Plan of Action. Consequently, the Minister for External Affairs has decided not to re-enact the MLWD Order, which […]