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*StanChart Fined US$18 Million For Violating US-Zim Sanctions* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?wa Standard Chartered Bank plc has fallen foul with the United States government and is set to pay US$18 million in fines for violating sanctions imposed on Zimbabwe by America. Standard Chartered allegedly handled 1,795 transactions worth close to US$77 million for state-owned firms and sanctioned individuals. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- In a notice issued on Tuesday, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) said: > Separately, between May 2009 and July 2013, SCB Zimbabwe processed transactions to or through the United States involving Zimbabwe-related Specially Designated Nationals (SDNs) or entities owned 50 per cent or more, individually or in the aggregate, by one or more Zimbabwe-related SDNs. > These transactions constituted apparent violations of the Zimbabwe Sanctions Regulations (ZSR), 31 C.F.R. Part 541. SCB will remit $18,016,283 to OFAC to settle civil liability relating to the apparent violations of the ZSR > … the designated and/or blocked persons maintained account relationships with SCB’s affiliate in Zimbabwe, and engaged in funds transfer or debit/credit card transactions whose net settlement transfers were sent to, and processed by SCB NY or other U.S. financial institutions. > SCB NY processed 1,795 transactions totalling $76,795,414, for or on behalf, or that otherwise contained a property interest, of those sanctioned entities. Standard Chartered released a statement in which it accepted the charges. It said: > … accepts full responsibility for the violations and control deficiencies outlined in the resolution documents, the vast majority of which predated 2012 and none of which occurred after 2014. *Related:* *Sanctions Now Serving Zanu PF- David Coltart* *Full Text: Donald Trump Extends Sanctions On Zimbabwe* *More: NewZwire* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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