Deloitte fined $US10m in laundering case

BIG accountancy firm Deloitte was fined $US10 million by New York State overnight for its actions in advising Standard Chartered Bank over money laundering. Read more on news.com.au Deloitte Touche Tohmatsu Limited is one of the Global Compact Founding Fathers. Deloitte has signed the CEO Letter on UN Convention against Corruption. It is high profile member of the Working Group on the 10th Principle. The company is a 15000 USD Contributor to the Foundation for the Global Compact in 2013, was a Gold contributor (10000 USD) in 2012.

Fed cites Citi for breaching money-laundering law

The Federal Reserve on Tuesday cited Citigroup Inc. (US:c) for failing to comply with a federal law that requires banks to establish protections against money-laundering but didn't impose a fine. More on Market Watch. Citi Group is a Global Compact participant since 2010/03/24. Citi Group was a Gold Contributor to the Foundation for the Global Compact in 2012, 2011 and 2010.

UK bank to pay $327 million fine for money laundering

Standard Chartered Bank has agreed to pay $327 million to settle federal and New York charges it laundered money on behalf of four countries that were subject to U.S. economic sanctions from 2001 through 2007. More on The Star.com. Standard Charter Bank PLC(STAN:London)(STAN.L)(STAN:LN), has been a Global Compact participant since 10-12-2001.