Liverpool sponsors Standard Chartered accused of funding terrorist groups with more than $100billion worth of transactions

Liverpool sponsors Standard Chartered have been accused of funding terrorist organisations in breach of United States sanctions against Iran. The financial behemoth was named in court filings in New York City that alleged they carried out billions of dollars worth of transfers for funders of terrorist groups.

As per the BBC, court filings reveal that the financial institution oversaw over $100 billion worth of transactions across a five-year period, between 2008 and 2013. An external expert in counter-terrorist financing, found $9.6 billion worth of foreign-exchange transactions done with entities labelled as 'terror groups' by the US government. They included the Taliban, Hezbollah, Hamas and Al-Qaeda.

Standard Chartered are not alien to falling foul of the law, the financial institution paid more than $1.7 billion in fines to the US and UK for other cases in 2012 and 2019. That settlement is one of the highest fines paid by any financial organisation for wrongdoing.

Julian Knight, who led the bank’s transaction services unit from 2009-11 is one of the whistleblowers responsible for bringing the case forward. It remains to be seen if Liverpool will continue their relationship with the financial institution in light of the serious allegations levelled against them.

Liverpool sponsor's spokesperson responds to terror financiering accusations

Liverpool sponsor, Standard Chartered bank's spokesperson responded via email to being claimed by the International Consortium of Investigative Journalists that they have helped finance terror organisations in the Middle East.

The London-based bank denied its involvement in any such activities. The Bank's statement claimed that the allegations were:

“Another attempt to use fabricated claims against the bank, following previous unsuccessful attempts. The false allegations underpinning it have been thoroughly discredited by the U.S. authorities who undertook a comprehensive investigation into the claims and said they were ‘meritless’ and did not show any violations of US sanctions," via the official website of the International Consortium of Investigative Journalists.

The financial institution is one of the most recognizable in the world and they have a well publicised relationship with Liverpool football club. It remains to be seen if they will be found guilty in the ongoing investigation of their activities and how they will be punished if so.