All posts tagged "Citibank"
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80AML / KYCSingapore 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 -
1.2KFintech / 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 -
817AML / 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 -
697Enforcement
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 -
1.2KAsia-PacificAnt Group Launches New Digital Trade, Financing Platform
DBS, BNP Paribas, Citibank, Deutsche Bank and StanChart have partnered with Ant Group to help optimise cross-border processes on the new blockchain powered platform.
September 30, 2020 -
545EnforcementKorea FSS Finds Banks Failing to Inform Borrowers of Rights
Since June 2019, banks have been required to inform customers of their right to request lower interest rates when their credit profiles improve or their assets increase.
September 23, 2020 -
815AML / KYCAustralian Banks Flagged in SARs from FinCEN Files
Among the potentially suspicious transactions were more than $174mn of possibly illicit funds that flowed through Australian banks.
September 22, 2020 -
539EnforcementHong Kong ICAC Charges Two for Defrauding Four Banks
An SME director and a former clerk allegedly conspired to defraud four commercial banks, the Trade and Industry Department, and Hong Kong Mortgage Corporation.
September 4, 2020 -
683Market InfrastructureMAS Becomes First Asian Government Entity to Issue RFR Debt
Singapore is seen to be leading Asia in its preparation for the cessation of LIBOR at the end-of 2021. Earlier this month, MAS announced new initiatives to catalyse SORA markets.
August 20, 2020 -
489Hong KongHKMA, SFC Publish Final List of FSPs Under Clearing Obligation
The HKMA and SFC will remove one entity that no longer conducts OTC derivatives business as its institutional services are now being provided by BofA Securities Inc, a new FSP.
June 25, 2020
