Prestwich_Blue
Well-Known Member
Western Union, their sleeve sponsor, as well.And this.
Standard Chartered has been ordered to pay $1.1bn (£842m) by US and UK authorities to settle allegations of poor money-laundering controls and breaching sanctions against countries including Iran.
The British bank has agreed to pay $947m to American agencies, including the US Department of Justice, over allegations that it violated sanctions against a string of countries including Iran.
Separately, it was fined £102m by the Financial Conduct Authority for anti-money-laundering breaches that included “shortcomings” in its counter-terrorism finance controls in the Middle East. It is the second-largest fine ever imposed by the UK regulator for anti-money-laundering failures.
The US treasury department said the latest fines settled “apparent violations” of sanctions imposed against Burma, Zimbabwe, Cuba, Sudan, Syria, and Iran.
It said Standard Chartered processed transactions worth $438m between 2009 and 2014, the majority of which involved Iran-linked accounts from its Dubai branch routing payments through, or to, its New York office or other US-based banks.
Their two shirt sponsors fined more than Sheikh Mansour has put into City.