StanChart fine exceeds February’s provisions

Jasper Cox

April 10, 2019 09:45 am

stanchart2_pa_230x150 — A general view of the Standard Chartered building in the City of London, as more than £6 billion was wiped from the value of Standard Chartered after the banking giant was accused of hiding 250 billion US dollars (£160 billion) of transactions with the Iranian government. | Yui Mok/PA Archive/PA Images

Standard Chartered is paying $1.1bn in penalties to US and UK authorities in relation to breaching rules relating to sanctions and financial crime. This exceeds the $900m provision the bank announced in February for sanctions fines.

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Regulation Americas EMEA People and Markets GCC Standard Chartered EM People and Markets United Arab Emirates Middle East United States Europe Emerging Markets North America SRI EM Middle East

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Jasper Cox