Standard Chartered is putting aside $900m (£690m) for potential fines involving investigations in Britain and the US. The money will cover separate investigations into breaches of US sanctions and foreign exchange trading issues. It also covers a £102.2m fine from the UK’s Financial Conduct Authority related to financial crime controls. The provision will be included […]

The Monetary Authority of Singapore (MAS) has imposed multi-million dollar fines on the Singapore branches of Standard Chartered bank and Coutts & Co for breaching anti-money laundering regulations in relation to 1MDB-related fund flows through these banks, MAS said in a release on Friday (Dec 2). StanChart was fined S$5.2 million and Coutts was fined […]

The bank is under investigation by the Department of Justice over allegations it violated the terms of a 2012 settlement. Three years ago it paid $US667 million ($953m) in penalties to US watchdogs after admitting deliberately disguising transactions that could have broken US sanctions against Iran and other states. Under a deferred prosecution agreement signed […]

Barclays has launched an internal review into whether its accounts were used for corrupt payments by FIFA officials, a banking source told AFP on Sunday. Standard Chartered has also said it was investigating payments cited in the US indictment. UK-headquartered Barclays, Standard Chartered and HSBC were among more than a dozen banks referred to in […]

British bank Standard Chartered has hired two experts in the US to monitor criminal activities in its transactions, following various complaints of violations of law. The two former prosecutors have been recruited in November and December, coinciding with a federal probe of Standard Chartered’s past compliance with sanctions laws, reported Reuters. Former assistant director of […]

Deloitte LLP’s financial advisory unit will pay $10 million and refrain for one year from new business with certain New York banks to settle accusations over its review of money laundering controls at Standard Chartered Bank. Deloitte Financial Advisory Services also agreed to reforms designed to address potential conflicts of interest, the state Department of […]