Standard Chartered Bank PLC : violating banking sanctions for profit / Chijioke Oji & Viola Makin.

Format:

Book

Author/Creator:

Oji, Chijioke, author.

Makin, Viola, 1952- author.

Series:

SAGE knowledge. Cases.

SAGE Knowledge. Cases.

SAGE knowledge. Cases

Language:

English

Subjects (All):

Standard Chartered Bank New York.

Banks and banking--Corrupt practices--Case studies.

Banks and banking.

Business ethics--Case studies.

Business ethics.

Economic sanctions.

Banks and banking--Corrupt practices.

Iran.

Economic sanctions--Iran--Case studies.

Genre:

Case studies.

Physical Description:

1 online resource : illustrations (black and white, and colour).

Place of Publication:

[London] : SAGE, 2016.

System Details:

text file

Summary:

On 6 August 2012, Benjamin Lawsky, superintendent of the New York State Department of Financial Services (DFS), announced findings from an investigation of Standard Chartered Bank New York (SCBNY). The DFS claimed that over nine years, SCBNY had hidden 60 000 transactions totalling 250 billion dollars for Iranian banks on which the United States (US) government had imposed sanctions. The announcement resulted in a loss of D4.81 per share from Standard Chartered Bank's (SCB) stock, erasing D11.5 billion from the bank's market value. SCBNY accounted for 15% of SCB's revenue, and faced the possibility of having its banking licence revoked by the DFS.

Notes:

Originally Published in: Oji, C., & Makin, V. (2013). Standard Chartered Bank plc: Violating Banking Sanctions for Profit. WBS-2013-7. Johannesburg: The Case Centre, Wits Business School.

No ILL or scholarly sharing allowed.

Description based on online resource; title from home page (viewed on April 28, 2016).

ISBN:

9781473964730

OCLC:

1017727017

Access Restriction:

Restricted for use by site license.