US banks may have laundered money for Iran

US
banks may have laundered money for Iran
The Office of the
Comptroller of the Currency, the federal agency that oversees the biggest banks,
is leading the money-laundering investigation, according to the Times. The
report said the OCC could soon take action against JPMorgan Chase & Co., and
that it is also investigating Bank of America Corp. Money laundering allows
people to make money — often obtained illegally — appear like it came from
another source.