Last week, the bank found itself in hot waters in Asia and Europe.

Standard Chartered could face more difficult questions from authorities as Indonesia is now reportedly investigating reports that $1.4 billion held by the firm's Guernsey operation was transferred to Singapore just before the island introduced new tax transparency rules. 

The London-headquartered bank, which reaps 90 per cent of its profits in Asia, Africa and the Middle East, was already in the cross-hairs of Singapore and Guernsey regulators, which were investigating the chain of events linked to the transaction. 

Now, Indonesia is said to be hot on its heels, with the country's Finance Ministry having reportedly received data on the fund transfer that showed it involved 81 private citizens, according to news reports which quoted Indonesia's director-general for taxation, Ken Dwijugiasteadi. The government expects to wrap up its investigation by the end of this month.

The assets – held by Standard Chartered's Guernsey trust arm for predominantly Indonesian clients – were moved in late 2015 before the Channel Island introduced the Common Reporting Standard, a global tax-exchange framework, at the beginning of 2016. The bank shut shop on the island last year. 

The Financial Conduct Authority, which oversees financial services in the UK, is reportedly aware of the events but is not reviewing them.

Still, the Monetary Authority of Singapore has been known to take a tough stance on banks found guilty of wrongdoing.

Last year, it kicked two Swiss banks out of the city-state over their dealings with the scandal-hit 1Malaysia Development Berhad, or 1MDB, the Malaysian state-owned investment fund that allegedly had billions of dollars siphoned from it, according to global authorities. The regulator levied heavy fines and seized more than $175 million of assets that were allegedly acquired with dirty money. Four former bankers have been jailed in Singapore in relation to the 1MDB affair. 

New Malaysia CEO

Earlier this week, Standard Chartered said it had named Abrar Anwar as managing director and chief executive of its Malaysian operation, succeeding Mahendra Gursahani next month, who is leaving the group “to take on another opportunity". 

Anwar joined the bank's Bangladesh unit in early 2011 and led the corporate client coverage business until 2014. The following year, he was made CEO of the Bangladesh bank. He has 26 years' experience in corporate and investment banking across Bangladesh, India and the UK. 

“Abrar is an excellent candidate to helm the bank’s business in Malaysia. His leadership skills, deep industry knowledge, and great rapport with clients will help to drive our business strategy and performance in Malaysia,” Anna Marrs, Standard Chartered regional CEO for ASEAN and South Asia, said. “We would like to thank Mahendra for his significant contribution to the bank and we wish him well for his future endeavours.”