The FCA said the bank's behaviour mirrored previous misconduct, for which it was also fined in 2013 and had restrictions imposed in 2018.
January 12, 2023The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.
January 5, 2023The package includes AML/CFT rules for the crypto sector and a ban on cash payments over EUR 10,000, among other measures.
December 12, 2022Bank of Singapore offered the DFSA an enforceable undertaking agreeing to remediate deficiencies and engage an external compliance expert for verification.
November 11, 2022The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.
November 4, 2022Reporting entities "must" take reasonable steps to verify the existence and name of any nominee director, shareholder or general partner at onboarding.
November 2, 2022Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
October 24, 2022InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.
October 22, 2022When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.
October 7, 2022Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.
September 28, 2022