FCA fines Standard Chartered £102m for AML breaches

Second largest AML fine by FCA

Sophie King
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The Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102.2m for anti-money laundering (AML) breaches, representing the regulator's second largest financial penalty for AML control failings
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The Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102.2m for anti-money laundering (AML) breaches, representing the regulator's second largest financial penalty for AML control failings

The Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102.2m for anti-money laundering (AML) breaches, representing the regulator's second largest financial penalty for AML control failings.

The regulator found "serious and sustained shortcomings" in the firm's AML controls. The failings related to customer due diligence and ongoing monitoring. The fine, revealed on Tuesday, followed investigations...

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