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2012-08-06 — usatoday.com
State Financial Services Superintendent Benjamin Lawsky signed an order that requires Standard Chartered Bank to answer his questions following an investigation into "wire stripping," which is the process of removing crucial identifiers in financial transactions.
The bank, well known globally, conspired with its Iranian clients to route nearly 60,000 U.S. dollar payments through Standard Chartered's New York branch "after first stripping information from wire transfer messages used to identify sanctioned countries, individuals and entities," according to the agency's order.
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