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.
GAZA CITY, Gaza Strip (AP) — Palestinian militants are firing rockets from Gaza and Israel is launching airstrikes following the end of a cease-fire and the collapse of talks aimed at a lasting truce.
Police shot dead a knife-wielding man Tuesday near the U.S. town roiled by 10 days of protests over the police killing of an unarmed black teenager, threatening to further ratchet up tensions. It came as the attorney for the family of Michael Brown, who was shot dead by police in Ferguson on August 9, said that the 18-year-old college student's funeral would be held on Monday. Civic leaders in Ferguson, in Missouri, had called for "night-time quiet and reconciliation" after another night of protests and violence in the majority black town. The world's media descended on the street, dozens of reporters having been in nearby Ferguson covering the ongoing unrest that has cast an unfavorable light on the United States' racial divide, as well as law-enforcement tactics.