Fed Works With Prosecutors on Iran, Other Sanction Issues

Federal Reserve Board spokeswoman Barbara Hagenbaugh said the central bank is working with prosecutors and the U.S. Treasury’s Office of Foreign Assets Control “on matters involving Iran and other sanctioned entities.”

“We cannot comment on ongoing investigations,” Hagenbaugh said by telephone. Hagenbaugh was responding to a query about accusations that Standard Chartered Plc violated U.S. money-laundering laws over its dealings with Iranian banks.

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