Standard Chartered faces fine in coming weeks for sanctions breaches:
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[August 17, 2019] (Reuters)
- Standard Chartered PLC <STAN.L> is facing
a fine for failing to prevent sanctions breaches, Sky News reported on
Britain's Office of Financial Sanctions Implementation, which includes
police and intelligence officers as well as finance ministry officials,
has notified the lender that it aims to impose a penalty of more than 10
million pounds ($12.15 million) on the bank in the coming weeks, Sky
News said http://bit.ly/2ZatPEx.
Sky News provided no further details, and Standard Chartered was not
immediately available for comment on Saturday.
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A logo of Standard Chartered is displayed at the financial Central
district in Hong Kong, China November 23, 2017. REUTERS/Bobby Yip
Standard Chartered agreed in April to pay $1.1 billion to U.S. and British
authorities for conducting illegal financial transactions that violated
sanctions against Iran and other countries.
(Reporting by Kanishka Singh in Bengaluru; Editing by Gareth Jones)
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