About this document
SCB Financial Crime Penalty Notice by aditya sai is a document available to read on EtoBox.
The UK Financial Conduct Authority imposed a civil penalty of £102,163,200 on Standard Chartered Bank for breaching UK anti-money laundering regulations. Specifically, the bank failed to establish adequate controls and procedures relating to customer due diligence and ongoing monitoring in its UAE branches from 2009 to 2014 and in its correspondent banking business from 2010 to 2013. The penalty amounted to 30% of the £145,947,500 fine that would have otherwise been imposed, to account for the bank
- Author
- aditya sai
- Language
- EN