Committed to the fight against financial crime

As the Internet evolves, so does the risks of financial crimes! Our adept team of Financial Crime experts in Standard Chartered Global Business Services India formed a strong case to fight financial threats under project ‘Lethal Exchange’.

The need

An investigation by the Centre for Advanced Defense Studies (C4ADS) reported that a particular region has been a primary source of supply of a banned substance in the U.S. Though that particular region banned the production and sale of a banned substance and its variants in May 2019, the report from C4ADS indicated that a lot of entities continued to be involved in the illicit supply of synthetic drugs by overtly advertising the same on the open web (internet websites).

What we did

Based on this report, Standard Chartered’s Group i3 intelligence team reached out to the financial crime experts at GBS India to study the transaction activity of a few entities listed by C4ADS to check if any of these transactions were made towards purchase/sale of illegal drugs thus exposing the Bank to potential financial crime risk. A task force was formed to be a part of the project, ‘Lethal Exchange’. Within a span of three months, the project team had conducted a thorough investigation of the relevant transactions and fund flows between different groups and assessed which of these transactions exhibited unusual activity patterns.

Global Capability Centres (GCCs) employ ~1.38 Mn professionals at present and are expected to further employ ~2 Mn by 2025.

Source: Nasscom