"The launch of Mox demonstrates the pace at which Standard Chartered is executing and moving on its strategic objectives, innovating and disrupting across our markets through digitisation", said the bank's chief executive Bill Winters.
Shares of JPMorgan tumbled 4.4 per cent in early trading. In London, they fell by a similar amount.
"We are taking the fight against money laundering and against the flight of capital very, very seriously", said Joerg Eigendorf, a spokesman for Deutsche Bank.
The SARs showed that banks often moved funds for companies that were registered in offshore havens, such as the British Virgin Islands, and did not know the ultimate owner of the account, the report said.
The SARs, which the reports said numbered more than 2,100, were obtained by BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ) and other media organisations.
Suspicious bank transactions of Indians are red-flagged to the top United States regulator -Treasury Department's Financial Crimes Enforcement Network (FinCEN) -for suspected money laundering, terrorism, drug dealing or financial fraud, Indian Express reported on Monday.
The report, based on leaked documents obtained by BuzzFeed News and shared with the consortium, said that in some cases the banks kept moving illicit funds after receiving warnings from USA officials. This move had alienated some of its loyal investors resulting in a historic low in HSBC shares.
"Law enforcement may sometimes request firms keep a client relationship ongoing to support further investigations", the group added.
What Happened: SARs aren't by themselves proof of a bank's guilt.
Shares of global banking giants HSBC and Standard Chartered Hong Kong plunged on Monday after official USA financial crime data showed that the world's biggest banks have allowed criminals to move more than $2 trillion "dirty money" around the globe.
Ms Weener said: "Given the current news coverage, a decision has been taken to pause all HSBC proactive social media posts with immediate effect (except for customer responses in banking services) to avoid negative reactions and comments across our channels and content".
Global banks, including UK-based HSBC, Barclays and Standard Chartered, face fresh scrutiny on their efforts to curb money laundering. What's being reported now is not new, not to us and not to our supervisory authority.
In reaction to the report, Deutsche Bank said ICIJ raised "a number of historic issues" and those related to the bank are "well known" to regulators.
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