OFSI imposed £20.4 million penalties on Standard Chartered Bank

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has imposed two monetary penalties totalling £20.4 million on Standard Chartered Bank for breaching financial sanctions by making loans to what was considered to be a subsidiary of a Russian bank in breach of The Ukraine (European Union Financial Sanctions) (No.3) Regulations 2014. See here.

‹ Back to News