The challenge

Access to the financial system helps transform lives around the world, helping to reduce poverty and spur economic development. But the financial system is also used by those involved in some of today’s most damaging crimes – from human trafficking to terrorism, corruption and the drug trade.

Hero Banner

The scale of the challenge around the world today:

At Standard Chartered, it’s our commitment to become a leader in the fight against financial crime.

tab-banner

At Standard Chartered, it’s our commitment to become a leader in the fight against financial crime.

tab-banner

At Standard Chartered, it’s our commitment to become a leader in the fight against financial crime.

tab-banner

At Standard Chartered, it’s our commitment to become a leader in the fight against financial crime.

Our commitment

“Built on a global footprint, Standard Chartered has become a linchpin of growth in emerging markets, promoting financial inclusion and global trade. This puts us at the front line of fighting financial crime. Building and maintaining robust defences is a necessary part of being in business and, as a gatekeeper to the financial system, it’s our responsibility to make sure we are playing our part.”

Bill Winters | Group Chief Executive

Our commitment to fighting financial crime

Access to the financial system helps transform lives around the world. But the financial system is also the lifeblood of some of today’s most damaging crimes – from human trafficking to terrorism, the drug trade to corruption.

Built on a global footprint, Standard Chartered has become a linchpin of growth in emerging markets, promoting financial inclusion and global trade. This puts us at the front line of fighting financial crime. Building and maintaining robust defences is a necessary part of being in business and, as a gatekeeper to the financial system, it’s our responsibility to make sure we are playing our part.

We realise that, at times, our past efforts to prevent financial crime fell short. That’s why we have been working hard to respond right across the bank, and we are making significant progress. We’re on a continual journey, and it’s our commitment to become a leader in tackling financial crime.

We have learnt from our past and recognise there is no room for complacency. This means engaging our people and strengthening our culture so that each and every one of us sees fighting financial crime as a core part of the day job, wherever we sit in the bank. At the same time, our business must be backed up by robust compliance efforts that address the inherent risk of the people, companies and markets that we serve – applied consistently around the world.

To make the financial system a hostile environment for criminals and terrorists, our contribution has to go beyond our own business. We’re helping to raise industry standards, working hand-in-hand with our banking customers around the world. And in collaboration with governments, regulators and other global banks, we’re taking a lead on forging new models for combating financial crime.

As we implement our future strategy, upholding the highest standards of conduct is a priority for the bank. That’s how we’ll make a positive difference to how the financial system operates, and build our business competitively and sustainably over the long-term.

Our role in global markets

With a deep presence in Asia, Africa and the Middle East, we play a critical role in the development of some of the world’s most dynamic economies. We’ve operated for over 150 years in some of today’s fastest-growing markets and have a footprint spanning 62 markets across the globe.

posters-banner

Our response

We’re putting our efforts into four areas:

grid-image

Engaging our people Strengthening our conduct so that each and every one of us sees financial crime controls as a core part of the day job

grid-image

The right controls Ensuring our compliance systems match the risks inherent in the markets in which we operate

grid-image

Helping to raise industry standards Working hand-in-hand with regional client banks across the world to improve practices

grid-image

Forging new partnerships Taking the lead on establishing new collaborative models to tackle financial crime

Most Recent Perspectives

Experts from Standard Chartered provide their insights on issues, events and trends linked to the global fight against financial crime. See more Perspectives posts.

The conversation

Here are some recent contributions to the global conversation about fighting financial crime.

Liberty Asia on The global challenge of human trafficking and money laundering (video) featuring Trish Sullivan, Regional Head, Financial Crime Compliance Americas, Standard Chartered
Bill Winters, Standard Chartered Group CEO on how ‘Digital banking has created openings for criminals and lenders must fight back’
The Wolfsberg Group Secretariat has published New Correspondent Banking Due Diligence Questionnaire along with a set of guidance material (Completion Guidance, Frequently Asked Questions (FAQs) and Glossary)
Financial Intel-Sharing Groups Need Diversity argues the WSJ’s Mara Lemos Stein in the Morning Risk Report (paywall)
New BBC drama McMafia makes chilling TV. But the reality is even worse argues The Guardian’s Foreign Correspondent, Luke Harding
1MDB looms large in Asian banks’ war on money laundering, David Howes, Standard Chartered, Deputy Head, Group Financial Crime Compliance in interview with Risk.net
Nick Lewis, Standard Chartered, Global Head of Financial Intelligence speaks to ACAMS about FATF’s Updated Recommendation on Standards for Sharing Financial Intelligence (paywall)
Heidi Toribio, Standard Chartered, Managing Director and Global Head, Banks and Broker Dealers on Building up the capabilities of respondent banks in FT Letters to the Editor (paywall)
The WSJ spoke to Heidi Toribio, Standard Chartered, Managing Director and Global Head, Banks and Broker Dealers about why Standard Chartered Turns to Education to Manage De-Risking (paywall)
Launch of new toolkit sees European Banks Unite to Tackle Human Trafficking, WSJ Compliance Journal blog (paywall)
Wolfsberg Group publishes updated guidance to help financial institutions handle money laundering risks posed by Politically Exposed Persons (PEPs)
Bank CEO and General Counsel say ‘Standard Chartered is on the frontline in fighting financial crime’, Brunswick Review Spotlight on Business & Society
The UK’s Financial Stability Board says ‘Stricter bank supervision needed in developing nations’, Financial Times
David Fein, Standard Chartered Group General Counsel on ‘How to beat the money launderers
Our perspective on ‘Managing risk in emerging markets’ from our Beyond Borders blog
Mathew Friedman, CEO, The Mekong Club on ‘Fighting Human Slavery: Why the Private Sector Should Care’ in a blog post for the UNDP