- Standard Chartered CEO Bill Winters said the bank shut down accounts used by a Russian money laundering ring after it uncovered attempts to circumvent Western sanctions imposed after the Ukraine invasion.
- The disclosure places sanctions compliance and enforcement at the center of the story, following the Western sanctions regime imposed in the wake of the invasion of Ukraine.
Quotes
“the bank had shut down the accounts used by a Russian money laundering ring after it discovered attempts to circumvent Western sanctions imposed in the wake of the invasion of Ukraine”