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==Controversies== ===Breach of sanctions fines (2012)=== In August 2012, Standard Chartered agreed to pay $340 million to the [[New York State Department of Financial Services]] over charges that the bank worked with the government of Iran to hide $250 billion in transactions in order to evade sanctions.<ref>{{Cite web|date=2012-08-14|title=Standard Chartered to pay $340m fine to New York bank regulator|url=http://www.theguardian.com/business/2012/aug/14/standard-chartered-pay-fine-regulator|access-date=2021-02-24|website=The Guardian|language=en}}</ref><ref>{{Cite web|date=2012-08-06|title=Standard Chartered bank accused of scheming with Iran to hide transactions|url=http://www.theguardian.com/business/2012/aug/06/standard-chartered-iran-transactions|access-date=2021-02-24|website=The Guardian|language=en}}</ref> In December 2012, Standard Chartered agreed to pay a $327 million fine for having hidden similar transactions with Iran, [[Myanmar]], Libya, and Sudan.<ref>{{Cite web|last=Isidore|first=Chris|date=2012-12-10|title=Standard Chartered fined $327 million for violating sanctions|url=https://money.cnn.com/2012/12/10/investing/standard-chartered-sanctions-iran/index.html|access-date=2021-02-24|website=CNNMoney}}</ref> ===Money laundering, breach of sanctions fine (2019)=== On 9 April 2019, Standard Chartered paid [[United States dollar|$]]1.1 billion to the [[Government of the United Kingdom|United Kingdom Government]] and the [[United States Department of the Treasury|United States of America's Department of the Treasury]] over deficiencies in the bank's money laundering control regime and for violating financial sanctions against [[Myanmar]], Zimbabwe, Cuba, Sudan, Syria, and Iran.<ref>{{Cite web |date=9 April 2019 |title=U.S. Treasury Department Announces Settlement with Standard Chartered Bank |url=https://home.treasury.gov/news/press-releases/sm647 |access-date=14 April 2019 |website=[[United States Department of the Treasury]]}}</ref><ref>{{cite news|last=Makortoff |first=Kalyeena |date=2019-04-09|title=Standard Chartered fined $1.1bn for money-laundering and sanctions breaches|work=The Guardian|url=https://www.theguardian.com/business/2019/apr/09/standard-chartered-fined-money-laundering-sanctions-breaches|access-date=2021-02-24|issn=0261-3077}}</ref> ===OFSI fine (2020)=== In April 2020, Standard Chartered was fined Β£20.4 million by the UK's Office of Financial Sanctions Implementation for loans to a Turkish bank [[DenizBank]], which fell under E.U. financial sanctions on Russia due to its majority ownership by Russian bank [[Sberbank of Russia]].<ref>{{Cite web|title=OFSI Fines Standard Chartered Bank Β£20M for Sectoral Sanctions Breaches {{!}} Publications {{!}} Kirkland & Ellis LLP|url=https://www.kirkland.com/publications/kirkland-alert/2020/04/ofsi-fines-standard-chartered-bank|access-date=2021-02-24|website=www.kirkland.com|language=en}}</ref><ref>{{Cite web|title=UK Enforcement Update: OFSI Shows its Teeth as Penalties for Sanctions Violations Jump into the Millions {{!}} Association of Certified Sanctions Specialists|date=18 July 2020|url=https://sanctionsassociation.org/uk-enforcement-update-ofsi-shows-its-teeth-as-penalties-for-sanctions-violations-jump-into-the-millions/|access-date=2021-02-24|language=en-US}}</ref> ===Indian bank takeover fine (2020)=== In August 2020, [[Enforcement Directorate]] fined Standard Chartered $13.6 million for foreign exchange rule violations in its 2007 takeover of [[Tamilnad Mercantile Bank Limited]].<ref>{{Cite news|date=2020-09-08|title=Standard Chartered Fined $13.6 Million for 2007 India Deal|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-09-08/standard-chartered-is-fined-13-6-million-in-india-for-2007-deal|access-date=2021-02-24}}</ref> ===Delay of reporting fraud fine (2021)=== In January 2021, the [[Reserve Bank of India]] issued a fine of βΉ2 crore of Standard Chartered Bank-India for delays in its mandatory regulatory fraud reporting.<ref>{{Cite web|title=RBI slaps penalty of βΉ2 crore on Standard Chartered Bank|url=https://www.thehindubusinessline.com/money-and-banking/rbi-slaps-penalty-of-2-crore-on-standard-chartered-bank/article33627271.ece|access-date=2021-02-24|website=@businessline|date=21 January 2021 |language=en}}</ref><ref>{{Cite news|agency=Press Trust of India|date=2021-01-21|title=Reserve Bank of India imposes Rs 2 cr penalty on Standard Chartered Bank|work=Business Standard India|url=https://www.business-standard.com/article/finance/reserve-bank-of-india-imposes-rs-2-cr-penalty-on-standard-chartered-bank-121012101369_1.html|access-date=2021-02-24}}</ref> === South African rand manipulation (2023) === In November 2023, after an 8-year litigation, the [[Competition Commission (South Africa)|Competition Commission]] fined Standard Chartered R42.7 million rand for various offences that related to manipulating the USD/ZAR currency pair which included the fixing of bids, offers, bid-offer spreads, the spot exchange rate and the fixing of the exchange rate at the [[Financial Information eXchange|FIX]]. Standard Chartered assumed liability for its actions in manipulating the rand between 2007 and 2013.<ref>{{Cite web |last=Ryan |first=Ciaran |date=2023-11-15 |title=Standard Chartered settles forex rigging case after eight years in court |url=https://www.moneyweb.co.za/news/south-africa/standard-chartered-settles-forex-rigging-case-after-eight-years-in-court/ |access-date=2023-11-15 |website=Moneyweb |language=en}}</ref><ref>{{Cite web |title=MULTINATIONAL STANDARD CHARTERED BANK ADMITS LIABILITY TO CURRENCY MANIPULATION CASE, AGREES TO PAY R42M FINE |url=https://www.compcom.co.za/wp-content/uploads/2023/11/Media-Statement-Commission-settles-with-Standard-Chartered-Bank-15-November-2023.pdf |archive-url=https://web.archive.org/web/20231115142829/https://www.compcom.co.za/wp-content/uploads/2023/11/Media-Statement-Commission-settles-with-Standard-Chartered-Bank-15-November-2023.pdf |archive-date=2023-11-15 |website=[[Competition Commission (South Africa)|Competition Commission]]}}</ref> ===Alleged terrorism funding (2024)=== Documents filed to a New York court in June 2024 claim that thousands of transactions worth more than $100 billion were carried out by the bank from 2008 to 2013 in breach of sanctions against Iran.<ref>{{cite web |last1=Croft |first1=Jane |title=UK bank Standard Chartered accused of helping to fund Iran and terrorists |url=https://www.theguardian.com/business/article/2024/jun/04/uk-bank-standard-chartered-iran-terrorists-sanctions |website=The Guardian |access-date=14 June 2024}}</ref> The filings, which were provided by former SCB employee and whistleblower Julian Knight, state that the bank "facilitated many billions of dollars in banking transactions for Iran, numerous international terror groups, and the front companies for those groups."<ref>{{cite web |last1=Hurley |first1=James |title=Standard Chartered accused of breaching sanctions |url=https://www.thetimes.com/business-money/companies/article/standard-chartered-accused-of-breaching-sanctions-on-100bn-transactions-0tmbrq86x |website=The Times |access-date=14 June 2024}}</ref>
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