Standard Chartered Bank has been fined a record £20.4 million (U.S. $24.9 million) for a “most serious” breach of sanctions by providing around £97.4 million (U.S. $119.1 million) in loans to a Russian bank in the Ukraine.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...