Our point of view

“Money laundering facilitates pernicious crimes such as bribery and corruption, human trafficking and terrorist financing. So it is essential for banks to improve the detection and reporting of suspicious activity. Such efforts are underway but broad public and private collaboration is required if we are to transform the financial system into a more hostile environment for criminals and terrorists.”

David Fein | Group General Counsel

Our Approach

We’re working with regulators, law enforcement, civil society and other global banks to forge new models for combatting financial crime. By bringing together banks and governments, and breaking down traditional silos, we can improve the effectiveness of existing frameworks to combat financial crime and create more actionable intelligence.

Through our experience with partnerships, we’ve learned that it’s not just technology, but also trust that is necessary to substantially improve our collective effectiveness in the fight against financial crime. All the innovation and potential for collaboration needs people to believe in it and create space for it to happen. That includes the big financial institutions who have a part to play in sustaining these efforts.



New approaches

How to beat the money launderers through collaboration
and new technology – our take in the FT.

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The UK’s Joint Money Laundering Intelligence Taskforce

Standard Chartered is a member of the Joint Money Laundering Intelligence Taskforce (JMLIT) - the UK’s new model for a collaborative approach to tackling money laundering.

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Our role in the Wolfsberg Group

Standard Chartered is a member of The Wolfsberg Group of International Financial Institutions, which first came together in 1999 to address money laundering risks in private banking. At the time, there was a growing concern that private banking was being targeted by kleptocrats to hide illicit funds offshore and that financial institutions needed to do more to fight financial crime.

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Disrupting Modern Slavery

Standard Chartered publishes an annual statement in line with the requirements of the UK’s Modern Slavery Act (2015), setting out the steps the Bank has taken in the last financial year to ensure that modern slavery is not taking place in our operations or our supply chain. Read our 2016 Modern Slavery Statement.

Collaborative approaches are needed to disrupt a growing, damaging global challenge. Here is our take on the issue, first published as a blog by David Fein on our intranet to coincide with Anti-Slavery Day, 18 October 2016.

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Next steps

“No one bank, acting alone, can make the whole difference in the fight against financial crime – just like no one government agency can do it alone. To be more effective, we need a paradigm shift that creates alignment as an industry and between the public and private sectors. By breaking down silos between and among financial institutions and regulators and law enforcement, we can be output-focused and genuinely disruptive of financial crime.”

David Fein | Group General Counsel


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