The FCA fined Standard Chartered Bank 102,163,200 million pounds for AML breaches between November 2009 to December 2014, the second largest fine for AML control failings issued by the FCA. 3 In the statement issued by the FCA: 'Standard Chartered's oversight of its financial crime controls was narrow, slow and reactive. These breaches are especially serious because they occurred against a backdrop of heightened awareness within the broader, global community, as well as within the bank, and after receiving specific attention from the FCA, US agencies and other global bodies about these risks. Standard Chartered is working to improve its AML controls to ensure all issues are fully addressed on a global basis. The FCA has taken into account Standard Chartered's remediation work and its cooperation in assisting the FCA investigation, without which today's financial penalty would have been even higher.' 4