Standard Chartered Bank settled to pay USD 1.08 Billion to the US and UK regulators for violation of the sanction regime and other compliance issues.
Once again, the Bank is in the middle of an scandal for violation of professional obligations.
As per the reported information the sum will be split in USD 947 Million to the US authorities to settle the investigation for violations of the sanctions regime while £ 102 will go to the UK authorities for breaches regarding professional obligations linked to AML.
This is the highest settlement granted to the this entity since the 2012 action which included a settlement for USD 667 Million and put the bank under court-appointed compliance monitoring.