The U.S. Attorney’s Office for the District of Columbia and the Department of Justice have decided to extend for three more years a deferred prosecution agreement reached with British bank Standard Charted Bank in 2012, finding that it has not satisfied the requirements of the original agreement—and may have even committed additional sanctions violations.
In amended documents filed in U.S. District Court in the District of Columbia Dec. 9, the U.S. Attorney’s Office for the District of Columbia and the Justice Department tacked on an independent compliance monitor, which Standard Chartered Bank (SCB) has agreed to bring on within 60 days, to ensure an effective U.S. economic sanctions compliance program, the filing stated.
