Bank agrees to pay £217m settlement over Iran row

British banking giant Standard Chartered has agreed a 340 million US dollar (£217 million) settlement with New York regulators over allegations it hid 250 billion dollars (£160 billion) of transactions with the Iranian government.

The 160-year-old bank saw £6 billion wiped from its value amid claims it exposed the US to terrorists, drug kingpins and weapon dealers.
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