News & Analysis as of

Iran Sanctions Standard Chartered Bank

The Volkov Law Group

OFAC Sanctions Compliance Insights from Standard Chartered Bank Enforcement Action (Part III of III)

The Volkov Law Group on

The Treasury Department’s Office of Foreign Asset Control (OFAC) has promised to issue guidance on effective sanctions compliance programs. This is a long-anticipated update to prior information OFAC has released on the same...more

The Volkov Law Group

Standard Chartered Bank’s Continuing Culture Challenges and Sanctions Compliance (Part II of III)

The Volkov Law Group on

Standard Chartered Bank certainly has its troubles. You know a company is in trouble, however, when it breathes a sigh of relief after paying nearly $1.1 billion in fines and penalties and compares itself to BNP Paribas, the...more

The Volkov Law Group

Standard Chartered Pays Over $1 Billion for Continuing Sanctions Violations (Part I of III)

The Volkov Law Group on

Global banks are the poster children of sanctions violations and the importance of trade compliance. At the top of the heap is Standard Chartered Bank....more

Thomas Fox - Compliance Evangelist

Why Eat Your Words When You Can Eat a Peach?

Taken to the woodshed or when should a company have to eat its own words? Remember when President Reagan’s Director of the Office of Management and Budget, David Stockman, was ‘taken to the woodshed’ by White House Chief of...more

Miller Canfield

Wire Stripping: What is Old is New Again

Miller Canfield on

Recently, Standard Chartered Bank (SCB) was in the news again for stripping original wire details so that payments would go undetected by the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC)....more

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