The Financial Conduct authority (FCA) has fined Standard Chartered bank £102m in response to anti-money laundering (AML) failings in its UK wholesale bank correspondent banking business and in the United Arab Emirates (UAE).
Standard Chartered's AML controls were found to be subject to "serious and sustained shortcomings" relating to customer due diligence and ongoing monitoring, with the bank failing to establish and maintain...
December 'remains achievable'
Able to monetise its assets
Formal agreement set to be announced soon
Cash holdings continue to grow