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Violation Tracker Individual Record

Company: STANDARD CHARTERED PLC
Current Parent Company: Standard Chartered
Penalty: $100,000,000
Year: 2012
Date: December 10, 2012
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: anti-money-laundering deficiencies
Mega-Scandal: Sanctions Violations
Violation Description: The Federal Reserve Board announced the issuance of a consent order to cease and desist and a civil money penalty assessment of $100 million against Standard Chartered PLC and its branch in New York. The orders address unsafe and unsound practices related to inadequate and incomplete responses to examiner inquiries as well as insufficient oversight of its compliance program for U.S. economic sanctions, Bank Secrecy Act, and anti-money-laundering requirements.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
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.