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Violation Tracker Individual Record

Company: Standard Chartered Bank
Current Parent Company: Standard Chartered
Penalty: $292,210,160
Year: 2019
Date: April 9, 2019
Offense Group: financial offenses
Primary Offense: economic sanction violation
Mega-Scandal: Sanctions Violations
Violation Description: Standard Chartered Bank, a global financial institution headquartered in London, England, agreed to forfeiture of $240 million, a fine of $480 million, and to the amendment and extension of its deferred prosecution agreement with the Justice Department for an additional two years for conspiring to violate the International Emergency Economic Powers Act (IEEPA). The bank received credit for all but $52,210,160 of the fine from a portion of the penalties paid in related cases brought by the Office of Foreign Assets Control, the Federal Reserve, the New York State Department of Financial Services and the UK's Financial Conduct Authority.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.