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Standard Chartered Beefs Up Efforts to Combat Financial Crime

Jaclyn Jaeger | August 10, 2015

London-based Standard Chartered today announced a trio of appointments as the banking giant continues to beef up its efforts to combat financial crime following multiple enforcement actions by U.S. enforcement authorities in 2012.

As Compliance Week previously reported, Standard  Chartered in 2012 reached a $340 million settlement with the New York Department of Financial Services over allegations that the bank willfully ignored Iranian sanctions. During that time, the bank further agreed to forfeit $227 million to the Department of Justice for conspiring to violate the International Emergency Economic Powers Act (IEEPA).

In the wake of the enforcement actions, Standard Chartered announced the formation of a Financial Crime Risk Committee in 2014. The new appointments are as follows:

  • Steve Munro, a former U.S. military...
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