Deloitte allegedly provided a bank accused of doing business with the Iranian government with a “watered down” independent report that omitted any mention of the suspicious transactions. Standard Chartered Bank is under investigation by the New York State Department of Financial Services, which accused the London-based bank of scheming with the Iranian government and hiding from regulators roughly 60,000 secret transactions, totaling at least $250 billion, while the bank reaped hundreds of millions of dollars in fees. Read more in Accounting Today.
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