Standard Chartered called 'rogue' as fresh controversy emerges

The British banking industry was mired in fresh scandal today after Standard Chartered was branded a “rogue institution” for covering up billions of pounds of illegal transactions with the Iranian government.

The 160-year-old bank saw shares plunge 24%, wiping £10bn (€12.59bn) from its value, after regulators claimed its underhand tactics exposed the US to terrorists and drug kingpins.