News on Compliance

Swedbank money laundering report uncovers €37bn ‘high risk’ payments

March 31, 2020

AML: Record fine gives Swedbank a chance to move on

March 31, 2020

Hong Kong Regulator to Increase Monitoring of Fund Mangers

March 30, 2020

Banks, regulators move to protect customers from wave of coronavirus scams in UK, US

March 30, 2020

UK FCA Working On Keeping Markets Open And Orderly

March 30, 2020

More firms cancel dividends as market sell-off continues. FCA asks companies to delay financial results for at least two weeks amid coronavirus crisis

March 30, 2020

Coronavirus – A New Regulatory Risk Facing Firms In The UK Financial Sector. Sushil Kuner from Gowling WLG Financial Services Regulatory team explores the impact of COVID-19 on Financial Services and some practical steps which firms should consider taking in response.

March 30, 2020

Coronavirus Fincrime Infection Inflection Points: Compliance teams must counter surge in alerts, attacks, with fewer resources, even layoffs

March 19, 2020

City firms berate AML levy ‘burden’

March 19, 2020

Get ready for AML swoops – SRA The Solicitors Regulation Authority is ’chasing a number’ of law firms which have failed to disclose the safeguards they have implemented to combat money laundering, after the regulator ordered them to do so by letter last December.

March 19, 2020

UK: A Lawsuit Has Been Brought Against The Former Head Of Denmark’s Danske Bank Over His Conduct Regarding A Massive Money Laundering Scandal.

March 19, 2020

Betway to pay record fine for AML, problem gambling lapses

March 19, 2020

Personal Liability Exposure for Bank Executives and Compliance Officers

March 19, 2020

Ignoring Warnings Earns US Bank Compliance Officer a $450K Personal Fine

March 19, 2020

Wells Fargo boss says bank’s past conduct was ‘deeply disturbing’ Charles Scharf tells lawmakers the bank needs to operate ‘fundamentally differently’

March 12, 2020

Ex-Barclays Traders Fined £1.2 Million for Libor Scheme The men have contested the amount of money that the SFO is seeking to satisfy their confiscation order.

March 12, 2020

Outsourcing Requirements for Hong Kong Banks: An Overview

March 12, 2020

UK Regulatory Developments: February 2020

March 12, 2020

A near record year for money laundering: Banks hit with $10 billion in fines

March 12, 2020

Only 1 in 5 of APAC banks has an AML compliance strategy: study

March 12, 2020

Money laundering campaigners hail £100m ‘economic crime’ levy

March 12, 2020

Bank of England to tighten media policy as it probes leaks

March 5, 2020

As Banks Compete More On Experience, Compliance Becomes More Critical

March 5, 2020

EU finance ministers propose new anti-money laundering body

March 5, 2020

Wells Fargo fined $35 million in SEC settlement over investment advice The SEC says the bank improperly steered some clients to risky investments

March 5, 2020

Deutsche Bank’s bonuses are bad, but some are ok with that

March 5, 2020

Hong Kong’s financial watchdog launches crypto exchange crackdown Hong Kong will strengthen its policies around crypto money laundering (AML) and terrorist financing in response to Financial Action Task Force recommendations.

March 5, 2020

Pensions losing £6bn a year to fraud The UK’s pension sector faces a “critical risk” from fraud, and is currently losing upwards of £6bn every year, according to national audit, tax, advisory and risk firm Crowe.

March 5, 2020

Key players in Barclays saga: Some of the most senior officials at Barclays Bank were involved in attempts to raise £11 billion

March 5, 2020

Barclays investor calls for boss’s removal over Epstein links

March 5, 2020

New EU Law Will Make it Impossible for Banks to Ban Cryptocurrency-Related Transactions

February 26, 2020

FinCEN: Social Media Companies That Tokenize Must Follow the Law

February 26, 2020

Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad

February 26, 2020

Wells Fargo reaches $3bn fake accounts settlement

February 26, 2020

Bank watchdog asks PwC to probe Goldman reporting

February 26, 2020

FCA admits revealing confidential details of 1,600 consumers

February 26, 2020

SoftBank fund invests $100 million in compliance software firm

February 26, 2020

Swiss «Going Rogue» on Money Laundering Rules?

February 26, 2020

FCA has not brought a single prosecution under new anti-money laundering powers

February 26, 2020

Meet Collector Robert Tibbles, Who Snapped Up a $1,000 Damien Hirst Work in 1989 That Could Soon Sell for $2.3 Million

February 19, 2020

U.S. class action suits pile up against Australia’s Westpac amid money-laundering scandal

February 19, 2020

Royal Bank of Scotland – name change and gloomy guidance

February 18, 2020

European Commission warns eight countries over late AML laws

February 18, 2020

Compliance failings continue to dog banks

February 18, 2020

Australia investigator in bank cartel case says boss’s comments pressured him

February 18, 2020

ACFCS Thought Leader Spotlight: More pressure on AML teams to learn AI, better understand data, weave in cyber, says Julie Myers Wood

February 18, 2020

FinCEN: Work within the rules or face enforcement action

February 12, 2020

Hong Kong Securities And Futures Commission Reprimands And Fines BMI Securities Limited $3.7 Million And Suspends Its Responsible Officer For Breaches Of Anti-Money Laundering Regulatory Requirements

February 12, 2020

UK: SFO Internal Guidance On Evaluating A Compliance Programme

February 11, 2020

IT, Legal, Compliance: We Need to Talk.

February 11, 2020

The UK’s unrivalled regulatory framework is at the heart of our success as a finance hub

February 11, 2020

Former Wells Fargo CEO Hit With Biggest Fine Ever, It’s Still Not Enough

February 11, 2020

SEC Fines ABN AMRO for Improper Handling of ADRs

February 11, 2020

OCIE Releases 2020 Examination Priorities

February 11, 2020

Fighting financial crime with AI – How cognitive solutions are changing the way institutions manage AML compliance, fraud and conduct surveillance: new IBM whitepaper

February 4, 2020

How GDPR Is Impacting Business and What to Expect in 2020

February 4, 2020

Mastercard’s chief tosses Facebook’s Libra under the bus

February 4, 2020

Future of blockchain privacy could depend on this technology

February 4, 2020

Banking security in 2020: what to expect

February 1, 2020

Coronavirus Outbreak: Companies Halt Operations And Restrict Employee Travel To China

February 1, 2020

Singapore Announces New AML Rules for Crypto Businesses

February 1, 2020

How banks can modernise processes to comply with regulations

February 1, 2020

Is this the end of Malta’s reign as Blockchain Island?

January 28, 2020

Wells Fargo’s Ex-Chief Fined $17.5 Million Over Fake Accounts

January 28, 2020

European Union: The Fifth EU Anti-Money Laundering Directive Takes Effect

January 28, 2020

U.S. seeks big contempt fines against Turkey’s Halkbank

January 28, 2020

Is it me… or was UK the only country to let rogue bankers off scot-free

January 28, 2020

COLLECTOR GETS 18 MONTHS IN PRISON, $58M FINE FOR SMUGGLING PICASSO PAINTING FROM SPAIN

January 24, 2020

What the SFO Looks For in a Compliance Programme—New Guidance Published January 2020

January 24, 2020

2019 Data breaches

January 24, 2020

Takeaways from the SFC’s AML seminars

January 24, 2020

NAB faces a potential $10b fine after ASIC claims the law was broken 10,000 times

January 16, 2020

AML fines in 2019 breach $8 billion, Treasury official pleads guilty to leaking, 2020 crypto compliance outlook

January 16, 2020

The cost of a Data Breach at the end of 2019

January 9, 2020

APAC Wealth Migration Trends Heighten Financial Crime Risk

January 8, 2020

Over 1 Million Complaints Lodged Against UK Banking Products in 2019 H1

January 8, 2020

Hong Kong’s SFC fines RHB Securities Hong Kong $6.4M

January 8, 2020

FINRA slaps Credit Suisse with a $6.5 million fine

December 29, 2019

A Bumper Year for OFAC

December 23, 2019

Europe’s Money-Laundering Crackdown Is Expanding Beyond Banks

December 23, 2019

A fine industry Eye-watering fines do not seem to be changing firms’ behaviour for the better

December 23, 2019

Money has been leaving China at a record rate

December 23, 2019

Sixth largest FX dealer fined $192 million for tax evasion in the US

December 23, 2019

The biggest data breach fines, penalties and settlements to date..

December 23, 2019

Deutsche Bank whistleblower hits back at regulator

December 23, 2019

Morgan Stanley Fined $22 Million for Rigging Bond Markets

December 11, 2019

Westpac ticking every anti-money-laundering box wouldn’t make much difference to criminals

December 3, 2019

Dutch Crypto Startups Brawl With Regulators Over Scope of EU Money Laundering Rule

December 3, 2019

Europe’s Finance Chiefs to Call for Anti-Money Laundering Agency

December 3, 2019

U.S. derivatives regulator fines Goldman Sachs $1 million for record-keeping lapses

December 3, 2019

EXCLUSIVE-EU antitrust regulators say they are investigating Google’s data collection

December 3, 2019

Exclusive: U.S. digs deeper into Deutsche role in Danske money laundering scandal – sources

December 2, 2019

Anatomy of money laundering in B.C. real estate: 12 cases, $1.7 billion, 20 countries and 30 banks

December 2, 2019

Citi given record fine by BoE for ‘serious’ reporting failures US bank’s British operation did not ‘deliver accurate returns’, says Prudential Regulation Authority

November 27, 2019

Hong Kong Securities and Futures Commission Announces New Framework for Regulating Virtual Asset Trading Platforms

November 26, 2019

Australia’s Afterpay shares leap after audit finds ‘low risk’ of money-laundering

November 26, 2019

HK regulator fines China Rise for regulatory breaches and internal control failures

October 31, 2019

Facebook agrees to pay UK fine over Cambridge Analytica scandal

October 30, 2019

Update on Manager-in-Charge Regime

October 29, 2019

Hong Kong seeks new traffic cop for wonky market

October 19, 2019

Federal Reserve sets out regulatory challenges facing Facebook’s Libra.

October 19, 2019

Fincrime Briefing: U.S. accuses Turkey’s Halkbank of Iran sanctions busting, Pakistan struggles in FATF report, Deutsche Bank graft, and more

October 19, 2019

Standard Chartered faces £10m Treasury fine for ‘sanctions breaches’

August 29, 2019

Hong Kong ex-JPMorgan princeling case gets personal

May 21, 2019

Hong Kong Watchdog Issues Record HK$15.2 Million Fine To Chinese Broker Over Failure To Report Money Laundering

February 19, 2019

The Future Of Money Laundering After Brexit

February 19, 2019

Police Seize Millions In Assets As 17 People Face Money-Laundering Charges

February 19, 2019

The Regulations You Face In 2019: Asia-Pacific Snapshot

February 19, 2019