Standard Chartered may have moved terrorist-related money – BBC

A British bank moved money that may have been linked to terrorist financing, according to more leaked documents made public after the FinCEN documents leak.

The British broadcaster reported that Standard Chartered Bank processed almost $12m (£9.4m) in payments for Jordan’s Arab Bank from 2014 to 2016.
In 2016, Standard Chartered filed a report alerting authorities to more than 900 transactions that it suspected might have been for “illicit activities under the guise of charity”.

The report raised concerns about “possible terrorist financing”. The payments were reviewed after a US jury in 2014 found Arab Bank had knowingly provided banking services to the Palestinian militant group Hamas in the early 2000s.

In response to the leaked documents, Arab Bank stated that it “abhors terrorism and does not support or encourage terrorist activities”. Arab Bank added that it never notified by Standard Chartered that it had any concerns over transactions processed for its customers.

Standard Chartered said it “initiated account closure” with Arab Bank shortly after the 2014 court verdict but that it was a process that took some time.

It also said an SAR “is not an admission of fault on the part of the bank, nor is it conclusive evidence that wrongdoing has taken place”.
“Only the proper authorities are in a position to make that determination.”
It added that it took its “responsibility to fight financial crime extremely seriously” and that it had “invested substantially in compliance programmes”.
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