Standard Chartered settles sanctions, AML violations for $1.08bn
London-based Standard Chartered Bank will pay $1.08 billion to settle sanctions and anti-money laundering violations uncovered by US and UK investigators in a deal that will extend its deferred prosecution agreement through April 2021.
Of that its total monetary outlay, $947 million will go to resolve investigations by the US Justice Department, the Manhattan District Attorney’s Office, the New York State Department of Financial Services (NYDFS) and the Federal Reserve Board. The US regulators have accused the bank of willfully violating sanctions against Iran.
Read more at KYC360.