$1.1bn settlement agreed with Standard Chartered Bank

A $1.1bn settlement has been agreed with Standard Chartered Bank and OFAC, “federal, state, local and United Kingdom partners” to settle SCB’s civil liability for violations of economic sanctions relating to Burma, Cuba, Iran, Sudan and Syria. OFAC has published their $639,023,750m settlement agreement which follows a $132m settlement agreed with OFAC in 2012 for similar violations.  See Enforcement Information,...