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    Fighting financial crime

    Anti-money laundering

    Preventing money laundering and terrorist financing is fundamental to contributing to a safer society. 

Home > About us > Fighting financial crime > Anti-money laundering

Strong standards, applied globally

At Standard Chartered, we recognise the responsibility that comes with our role in the financial system and the trust clients place in us – not only to protect them, but to protect the integrity of the market and the communities in which we operate. Preventing money laundering and terrorist financing is a fundamental part of that responsibility.  

About anti-money laundering and counter terrorist financing

What is money laundering?

Money laundering is the process by which criminals attempt to disguise the origins of illicit funds so they appear legitimate.  

It enables serious crime, undermines financial systems and erodes trust in the global economy.  

What is terrorist financing? 

Terrorist financing involves the provision, collection or receipt of funds, with the intent or knowledge that funds will be used to carry out an act of terrorism, or any act intended to cause death or serious bodily injuries.  

How does Standard Chartered approach anti-money laundering (AML) and counter terrorist financing (CTF)?

We have zero tolerance for money laundering, terrorist financing and related financial crime.

We aim not only for compliance, but meaningful risk reduction, working to protect our clients, markets and reputation, and taking action where concerns arise.

Our framework is designed to be consistent globally while remaining sensitive to local risks and regulatory environments.

We align with UK regulatory requirements, which are applied as a minimum standard across the Group. Where appropriate, we go further – setting higher internal standards to reflect evolving risks, changing regulatory expectations, and the latest best practice evidence.

What controls are in place?

Money laundering and terrorist financing risks do not exist in isolation. We manage risk holistically, considering how it interacts with other financial crime and with non-financial risks across the organisation.

This includes collaborating across our franchise and business areas to identify, assess, and manage money laundering and terrorist financing risks. This collective approach allows us to share insights, strengthen oversight, and respond effectively to emerging threats.

We maintain a comprehensive system of controls designed to prevent, detect, and respond to these risks.

Our approach is forward-looking, meaning we:

  • Horizon-scan the regulatory environment to anticipate changes
  • Monitor and analyse trends to identify risks before they materialise
  • Continuously review our framework to remain aligned with regulatory expectations

This allows us to manage risk proactively rather than reactively.

What partnerships is Standard Chartered a member of?

Beyond our organisation, we actively engage with the wider financial crime prevention community. We are a member of the Wolfsberg Group, contributing to the development of global industry standards and best practice.  

We also cooperate through public-private partnerships across the financial services sector, working alongside peer institutions, governments, regulators and industry bodies. This collaboration enhances information sharing, strengthens collective defences and supports more effective outcomes in the fight against money laundering and terrorist financing.

Backed by technology

We invest in technology and innovation to enhance our ability to detect, prevent and manage money laundering and terrorist financing risk. 
 
This includes: 
 
• Advanced analytics and monitoring capabilities 
• Data-driven insights to identify patterns and emerging risks 
• Continuous improvements of tools that support informed decision-making 
 
Technology complements human judgment, enabling us to act earlier and more effectively. 

singapore skyline

What we do matters

Sharing insights in Singapore 

Money laundering is a systemic issue. Joining forces with other financial institutions through our partnerships helps us tackle it systemically, too. 

We are one of six banks participating in COSMIC, the Monetary Authority of Singapore’s centralised digital platform to help combat money laundering, terrorist financing and proliferation financing. 

A person uses a laptop to set up AI-enabled financial crime controls.

Tackling financial crime and protecting our customers

Money mules

Criminals use money mules to disguise the source of funds and make them appear legitimate. We actively detect and have zero tolerance for money mules who knowingly assist criminals in these activities.   

Learn more about money mules

Money mules

Money mules are individuals or legal entities that knowingly or, in some cases, unwittingly help criminal networks launder their illicit profits. They do this by providing their own accounts to help receive and transfer proceeds of crime. 

This is a common method criminals adopt to disguise their proceeds from illegal activity and legitimise it into the financial system.  

We actively detect and have zero tolerance for money mules who knowingly assist criminals in these activities.   

Unfortunately, there may also be instances where our customers are unaware of their involvement in this activity with scammers using different methods to get clients to send and receive money enabling proceeds of crime to pass through their account.  

Be vigilant and cautious with requests to transfer money in exchange for payment or commission. Refer to our fraud pages for common scams.  

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