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New York state's banking regulator hit Standard Chartered Bank with a $300 million fine and restrictions on its dollar-clearing business for not detecting possible money laundering. The New York Department of Financial Services (DFS) said the British bank's internal compliance systems had failed to detect or act on a large number of "potentially high-risk transactions" mostly originating from Hong Kong and the United Arab Emirates. The new punishment came two years after the bank paid US regulators $667 million to settle charges it violated US sanctions by handling thousands of money transactions involving Iran, Myanmar, Libya and Sudan. A DFS monitor appointed in 2012 to keep an eye on the bank discovered that it had not detected the allegedly high-risk transactions from Hong Kong and the UAE or reported them as it should have, the department said.
Huge landslides in western Japan killed at least 27 people and left another 10 missing Wednesday, the government said, after a wall of mud engulfed homes in a suffocating sludge. Dozens of houses were buried when hillsides collapsed after torrential downpours in Hiroshima, television pictures showed, leaving rescuers to pick through the devastation for any signs of life. "According to the National Police Agency, the death toll has risen to 27 and 10 others are still unaccounted for," said an official of the disaster management office, a government body. Among the dead was a 53-year-old rescuer, who was killed by a secondary landslide after he had pulled five people to safety, the Fire and Disaster Management Agency said.