Violation Tracker Individual Record

Company: 
Standard Chartered Bank
Current Parent Company: 
Standard Chartered
Penalty: 
$227,000,000
Year: 
2012
Date: 
December 10, 2012
Offense Group: 
financial offenses
Primary Offense: 
economic sanction violation
Violation Description: 

Standard Chartered Bank agreed to forfeit $227 million to the Justice Department for conspiring to violate the International Emergency Economic Powers Act. The bank agreed to the forfeiture as part of a deferred prosecution agreement with the Justice Department and a deferred prosecution agreement with the New York County District Attorney's Office for violating New York state laws by illegally moving millions of dollars through the U.S. financial system on behalf of sanctioned Iranian, Sudanese, Libyan and Burmese entities.

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 Parent: 
Britain
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.