In 2010, as part of our ongoing programme of development, we made our screening process even more sophisticated, extending it to payment messages containing non-alphabetical characters. We also trained over 2,000 staff in sanctions procedures and shared our expertise in screening account names and transactions with other banks, regulators and industry groups.
In 2010, the Joint Money Laundering Steering Group issued its first guidance to the UK financial services industry on sanctions compliance. Standard Chartered was an active participant in the industry team that developed and drafted this guidance, which is among the first of its kind in the world.
In another major market we were asked by the Central Bank to present at an industry forum, to discuss how we had incorporated sanctions requirements into our operations. Subsequently, we were invited to provide a White Paper on best practice in this area. Currently, the Central Bank is reviewing our submission as part of its plans to provide direction on sanctions to financial institutions in 2011.