ENFORCEMENT

AML / KYC

Belgian Regulator Probes ING Over for Alleged AML Violations

By Nithya Subramanian | 17/01/2025

ING Bank allegedly delayed reporting suspicious financial activities linked to former European Commissioner Didier Reynders.

Enforcement

Korea FSS Launches Probe at IBK Over Fraudulent Loans

By Mark Johnston | 17/01/2025

Current and former employees of Industrial Bank of Korea allegedly participated in a KRW 23.95 billion fraudulent loan scheme

Enforcement

US OCC Fines Three Former Wells Fargo Execs for Misconduct

By Thisanka Siripala | 17/01/2025

The OCC’s penalties conclude enforcement proceedings against the last of 11 individuals involved in the fake-accounts scandal.

Enforcement

US SEC Fines BMO Capital Markets Over Bond Desk Supervision Failure

By Nithya Subramanian | 17/01/2025

The SEC said BMO Capital Markets failed to supervise employees who sold mortgage-backed bonds using misleading marketing practices.

AML / KYC

CFPB Fines Block Inc Over Cash App Security Lapses

By Nithya Subramanian | 17/01/2025

The CFPB has fined Block for allowing fraud to proliferate and closing cases of reported fraud without even opening a legally required investigation.

Enforcement

SEBI Settles Case Against 10 Over TV Stock Recommendations

By Nithya Subramanian | 17/01/2025

Among those that settled were SAAR Securities, along with one of its directors, and two directors of the firm’s commodities unit.

Crypto / Digital Assets

US Supreme Court Denies Binance Petition on Securities Law Applicability

By Mark Johnston | 16/01/2025

The US Supreme Court has rejected a request to review whether US securities laws apply to Binance, which doesn’t have a physical location

AML / KYC

US Fines Crypto Firm BitMEX $100m for AML Violations

By Nithya Subramanian | 16/01/2025

The Justice Department said the penalty sends a clear message that companies which violate AML and KYC rules will face strict consequences.

Enforcement

FSS Korea Directs OCBC to Fix Internal Control Deficiencies

By Nithya Subramanian | 16/01/2025

The FSS identified deficiencies at OCBC’s Seoul branch relating to dealing desk internal controls, real estate PF loan evaluations, and risk management