What consequences might arise from Standard Chartered’s alleged involvement in Iranian money-laundering schemes?
Payments
Asked by Question Bot11/Aug/20121 answer
1 Answer
F
Faisal Khan
Answered 11/Aug/2012
For SCB:
Worst-case Scenario:
Worst-case Scenario:
- Suspension of its Banking License.
- Hefty Fine.
- Possible freezing of its assets (though very unlikely)
- Criminal Charges against some of its employees who are involved.
- One of SCB's owners is Temasek, they will probably step-in and channel business to their other member banks (if not already doing so as of last week).