Do Fines Really Discourage Banks From Breaking The Law?

Law360 (June 4, 2019, 1:52 PM EDT) -- Standard Chartered PLC has hit the headlines for the size of the fines imposed on it on both sides of the Atlantic. And as fines go, they are pretty large. It has been ordered to pay a total of $1.1 billion by U.S. and U.K. authorities to settle allegations of poor money-laundering controls and the breaching of sanctions against a number of countries; including Iran.

Standard Chartered must pay $947 million to American agencies, including the U.S. Department of Justice, to settle the allegations of what the U.S. Department of the Treasury referred to as “apparent violations” of sanctions imposed against...

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