An arrangement that New York state regulators first made in 2012 with the Standard Chartered Bank to have an independent monitor check the British bank’s compliance with money-laundering statutes has been extended through 2018.
The state Department of Financial Services (DFS) announced that under a supplement consent order it entered into with the London-based Standard Chartered on April 21, the bank will continue to maintain an independent monitor to track its adherence to the Bank Secrecy Act and Anti-Money Laundering rules.
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