Our point of view

“We want to be the best international bank, and we recognise we cannot be that bank without being a leader in fighting financial crime. It’s not one or the other. And a core part of getting that right is developing controls that take into account the risks that we face as a bank around the world.”

John Cusack | Global Head, Financial Crime Compliance

Our approach

We’re working hard to ensure our business is backed by robust financial crime compliance efforts that address the inherent risk of the people, companies and markets that we serve. To enhance our financial crime controls, we’ve made substantial investment in new systems and processes, in training for our frontline and compliance staff, and in our people. But we know that we need to continue to innovate in order to help to keep the financial system secure from criminals and terrorists.

2018 will see the roll-out of some important new tools and processes that have the potential to transform the efficiency and effectiveness of our approach, following a number of successful proof of concepts.

New machine learning technologies offer possibilities to crunch vast quantities of data quickly and to finetune our financial crime surveillance tools; crucially freeing up time for specialists to investigate potentially suspicious behaviour and transactions.

And as technology gives criminals a growing arsenal of digital tools to generate and conceal illicit funds, we’re responding by bringing together specialist disciplines inside the Bank across cyber and financial crime. This is spearheaded in the US by our integrated ‘CyFi’ Intelligence unit.

Learn more about financial crime controls, and the financial crime activity they aim to prevent, detect and disrupt from our most recent Deep Dives.


“The financial crime landscape continues to evolve, and we recognise the need to be vigilant against new and transforming threats as well as adapting to changes in relevant regulation and sanctions regimes. In 2017 we built a dedicated Cyber Financial Intelligence team in the US.”

Mark Smith | Group Chief Risk Officer


Investment in financial crime compliance

Our investment in financial crime controls is improving our ability to fight financial crime.

Supporting governance through Board level oversight

Reflections from Sir Iain Lobban, Independent advisor member of Standard Chartered’s Board Financial Crime Risk Committee and former Director of the British Government Communications Headquarters (GCHQ):

I come from a career in the national security world - motivated by an urge to stop bad things happening: terrorism, nation state belligerence, military conflict, cyber attack, serious crime. When I left government I didn't think I would find the same commitment to protect our societies in the commercial world, but wanted to maintain some connection to that ethos.

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Financial Crime Fighters

Financial crime professionals across the Bank work every day to implement the enhanced controls that we are putting in place. Here are three recent stories of action from across our network.

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Annual Financial Crime Risk Symposium

In November 2017, the Bank brought together over 2,000 analysts from its Financial Crime Surveillance Unit and Customer Due Diligence teams to explore new imperatives and opportunities in the fight against financial crime. Highlights of the event included discussion of the emerging fields of FinTech, RegTech & robotics, the continuing challenge of trade-based money laundering, and diverse views on different domestic and international financial crime challenges.

As well as interactive case studies, there was a packed agenda of senior internal speakers, as well as perspectives from external guests like Manoj Kaushik (India Financial Intelligence Unit), Rick McDonnell (former Executive Secretary of the Financial Action Task Force) and René Brülhart (President of Financial Information Authority of the Vatican City).

This one-of-a-kind in-house financial crime conference is held simultaneously in our hub locations of Bangalore, Chennai, Kuala Lumpur and Tianjin. It presents an opportunity for Bank veterans and new joiners to get together to gather fresh insights, different perspectives and a sense of how external priorities and internal objectives align on the fight against financial crime.

Next steps

“We've improved our controls and we want to go further. That means using state-of-the-art technology and data analytics to try and identify those persons and transactions who are really trying to abuse this organisation and launder criminal proceeds. We have a lot more to do and we are committed to completing the job that we have started.”

John Cusack | Global Head, Financial Crime Compliance


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.

How we’re fighting financial crime