Standard Chartered Sanctions Violations Archives - Corruption, Crime & Compliance

16 Apr, 2019

Standard Chartered Bank’s Continuing Culture Challenges and Sanctions Compliance (Part II of III)

Standard Chartered Bank certainly has its troubles. You know a company is in trouble, however, when it breathes a sigh of relief after paying nearly $1.1 billion in fines and penalties and compares itself to BNP Paribas, the global French bank, which paid over $8 billion for pervasive US sanctions violations. The Justice Department and OFAC have had a target-rich environment when reviewing global bank...

Standard Chartered Pays Over $1 Billion for Continuing Sanctions Violations (Part I of III)

General

15 Apr, 2019

Standard Chartered Pays Over $1 Billion for Continuing Sanctions Violations (Part I of III)

Global banks are the poster children of sanctions violations and the importance of trade compliance. At the top of the heap is Standard Chartered Bank. In a long-awaited resolution of a multi-year investigation, the Justice Department, the Treasury Department’s Office of Foreign Asset Control (OFAC), the New York District Attorney’s (DANY), the Federal Reserve, the New York State Department of Financial Services (DFS) and the...