Standard Chartered are facing fresh allegations they handled billions of dollars’ worth of transactions for terror groups including Iran.
New documents have been filed in a US court and whistleblowers are trying to have a case reopened after what is alleged to be fresh evidence which claims the British bank violated international and US sanctions that were imposed on Iran.
The bank that focuses on Asian markets have said the allegations are “fabricated” by “false allegations.”
The London-listed bank had the British government intervene on their behalf therefore avoiding prosecution in the US.
A former executive at the bank, Julian Knight who is one of the whistleblowers have accused the US government of “fraud” in the court over the investigation into the alleged violations of sanction in 2012 and 2013.
On Friday a court document was filed in New York that claims on freshly analysed data, the banking giant “facilitated many billions of dollars in banking transactions for Iran, numerous international terror groups, and the front companies for those groups.”
The court document names the Taliban, Al-Qaida, the Lebanese militant group Hezbollah and Gaza based Hamas.
The whistleblowers filed the documents under the name of Brutus Trading who have alleged to found $100 billion of transaction between the British banking giant and Iranian customers.
The new court document reads, “With the assistance of forensic data analysis, Brutus was only recently able to reveal or ‘decloak’ countless illegal transactions that were hidden deep in the bank’s electronic spreadsheets, which Brutus gave to the government.
“One cannot overstate the significance of that discovery.”
A spokesman for Standard Chartered said, “The false allegations underpinning it have been thoroughly discredited by the US authorities who undertook a comprehensive investigation into the claims and said they were ‘meritless’ and did not show any violations of US sanctions.
“We are confident the courts will reject these claims, as they have already done repeatedly.”
