Standard Chartered Couldn’t Tell Regulator How Some Rich Clients Got Rich
- Dubai authorities found numerous source-of-wealth breaches
- Bank is reviewing roughly 8,000 clients at its private bank
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Standard Chartered Plc, fined billions of dollars since 2012 for regulatory violations, has discovered that it cannot explain how some of its wealthiest clients acquired their fortunes and is reviewing thousands of customer accounts at its private bank.