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Report: StanChart launches probe into bankers' conduct

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Report: StanChart launches probe into bankers' conduct

StandardChartered Plc is scrutinizing employees' expense reports as part ofan investigation into bankers' conduct, Bloomberg News reported April 29,citing "people with knowledge of the matter."

The probe has led to the departure of several Dubai-basedbankers in the last six months, including at least three managing directors forpersonally lending money to colleagues, violating internal compliance rules,Bloomberg noted.

The bank has been making efforts to improve controls,expenses and risk management, following fines for money-launderingviolations andbreaching sanctionson Iran.