Former S'pore police commissioner joins Stanchart's panel as external advisor

Standard Chartered plc said it has appointed three external advisor members to its Board Financial Crime Risk Committee, one of whom is a former commissioner of the Singapore Police Force.

Khoo Boon Hui was formerly president of Interpol, senior deputy secretary in Singapore's Ministry of Home Affairs and commissioner of the Singapore Police Force.

The other two appointees are Lazaro Campos, former CEO of the Society for Worldwide Interbank Financial Telecommunication (Swift), and Frances Townsend, former assistant to the US president for homeland security and counter-terrorism.

Their appointments are for two-year terms and additional advisors may be announced at a later date.

The formation of the board's Financial Crime Risk Committee was announced in last December as part of the group's strategic priority of combating financial crime and investing in conduct and compliance capabilities.

The Committee is responsible for overseeing the group's policies, procedures, systems, controls and assurance for its anti-money laundering, sanctions compliance, corruption and tax crime prevention efforts.

It also has oversight of the Financial Crime Risk Mitigation Programme, a group-wide initiative to identify and embed best practices, and the group's commitments under its 2012 and 2014 US regulatory settlement agreements.

The Committee is chaired by Simon Lowth and its members are Christine Hodgson, Naguib Kheraj, Ruth Markland and Lars Thunell, who are existing independent directors of the group.