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DenizBank

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile2 entries

  1. 2024

    Alleged Seçil Erzan special-fund fraud

    Former DenizBank branch manager Seçil Erzan was accused of operating a Ponzi-style scheme involving a purported secret or special fund. Prominent footballers, including Arda Turan and Fernando Muslera, were reported among the alleged victims, with losses described as approximately US$44 million. Prosecutors reportedly sought lengthy prison sentences for CEO Hakan Ateş and former assistant general manager Mehmet Aydoğdu, alleging that they knew of Erzan’s activities. Both men denied the allegations, and DenizBank said it had not received formal information about the investigation and criticized the public disclosure of indictment details.

    Source

  2. 2020

    UK sanctions regulator fines Standard Chartered £20.47 million

    Fine or penalty

    The UK Office of Financial Sanctions Implementation fined Standard Chartered £20.47 million over loans to Denizbank that the regulator concluded breached EU restrictions. The regulator found that 70 of 102 examined loans were not facilitating EU trade; the fine covered 21 loans within its enforcement authority.

    Company response

    • Ongoing disclosure — Standard Chartered

      Standard Chartered says OFSI’s findings “are based on information that we self-identified and self-reported”.

    • Remediation — Standard Chartered

      “As the penalty notice states, Standard Chartered did not wilfully breach the sanctions regime, acted in good faith, intended to comply with the relevant restrictions, fully co-operated with OFSI, and took remedial steps following the breach,” a spokesperson tells

    Source excerpt

    • Standard Chartered says OFSI’s findings “are based on information that we self-identified and self-reported”.
    • “As the penalty notice states, Standard Chartered did not wilfully breach the sanctions regime, acted in good faith, intended to comply with the relevant restrictions, fully co-operated with OFSI, and took remedial steps following the breach,” a spokesperson tells
    • UK sanctions regulators have issued a record £20.47mn fine to Standard Chartered for allegedly breaching restrictions on loans to Russian financial institutions.
    Source