Money Laundering - Bank denies US$250 billion in laundering charges

A British bank schemed with the Iranian government to launder US$250 billion ($304 billion) from 2001 to 2007, leaving the United States' financial system "vulnerable to terrorists", New York's financial regulator charged on Monday.

The State agency called the bank a rogue institution and quoted one of its executives as saying: "You (expletive) Americans. Who are you to tell us, the rest of the world, that we're not going to deal with Iranians." ... READ MORE

Released by Fairfax Stuff - 7 August 2012