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 Research Projects at the MPIfG

Money Laundering and Legal Compliance in the US Financial Services Industry

Craig Zabala


 
In 2012, the New York Department of Financial Services threatened to revoke Standard Chartered Bank’s US license for alleged money laundering violations involving Iran. The bank’s settlement with US regulators and law enforcement cost the bank more than a billion dollars. As a signal that no bank was too big to jail, in 2013, the Holding Individuals Accountable and Deterring Money Laundering Act was introduced in the US Congress. Focusing on a clinical examination of the Standard Chartered money laundering case, the project examines the role of US regulators and law enforcement in the settlement. The research results will be published in spring 2017. Project duration at the MPIfG: July 2016 to June 2017.
 
Zabala, Craig Anthony/Bonnie G. Buchanan, forthcoming 2017: Money Laundering and Legal Compliance in the US Financial Services Industry: The Case of Standard Chartered Bank. In: Michael Aßländer/Sarah Hudson (eds.), Handbook of Business and Corruption: Cross-Sectoral Experience. Bingley: Emerald.
 
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