RBS facing US scrutiny over Iran transactions

Royal Bank of Scotland is being investigated by US financial regulators in relation to its handling of transactions which may have breached sanctions on Iran, according to various reports on Wednesday.

Royal Bank of Scotland is being investigated by US financial regulators in relation to its handling of transactions which may have breached sanctions on Iran, according to various reports on Wednesday.

Shortly after Stephen Hester took over as Chief Executive at the 82% state-owned lender three years ago, he initiated an internal review of procedures.

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