All posts tagged "Citibank"
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196AML / KYCHK Bankers Threatened With Jail Under National Security Law
Letters sent to HSBC and Citibank threaten up to seven years' jail for any dealings with Hong Kong accounts belonging to media tycoon Jimmy Lai.
May 29, 2021 -
266Fintech / RegtechRBI Asks Banks to Cut Ties With Cryptocurrency Exchanges
The unofficial guidance comes as Indian lawmakers look to introduce a ban on cryptocurrencies and penalise anyone dealing in them.
May 17, 2021 -
528AML / KYCTaiwan FSC Fines Citibank, DBS for AML Violations
The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.
May 14, 2021 -
209ChinaIndian Court Lifts Freeze Order on ByteDance Bank Accounts
ByteDance is required to deposit around $10.6mn in a state-run bank, the amount tax authorities claim the company owes.
April 9, 2021 -
188FeatureUS Court Rules Against Citigroup Over Revlon Error Payment
The federal judge ruled that a group of asset managers are not required to return $501mn that Citigroup mistakenly paid early on behalf of Revlon last August.
February 18, 2021 -
268Enforcement
FSC Penalises Citibank Taiwan Over Reporting Errors
The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
February 5, 2021 -
316AML / KYC
Singapore Police Commend Citi, RHB Bank for Foiling Scam
Upon being alerted to a suspected case of money laundering by Citi, the Police's Anti-Scam Centre froze the funds and recovered $1.9mn.
December 30, 2020 -
1.3KFintech / RegtechWirecard Service Halt Disrupts Singapore Merchants – Report
Singapore merchants were caught off guard when Wirecard services stopped functioning this month. Many have been accepting payments via bank transfer, cash or digital platforms.
October 13, 2020 -
947AML / KYC
Fed Orders Citigroup to Correct “Longstanding Deficiencies”
The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.
October 8, 2020 -
850Enforcement
CFTC Settles Charges Against Citi Over Deleted Audio Recordings
Citi's audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.
October 2, 2020
