Tag: fines

Value of AML fines grow fivefold in 2020

There were 45 fines for AML failures issued globally during 2020, which matched the levels of 2019, and 2021 looks set to match this figure, according to a report from Kroll.

FCA fines Barclays £26m for how the bank treated credit customers

Barclays has been slammed with a £26m fine after a City watchdog found that it treated consumer credit customers who experienced financial difficulties poorly.

Anti-money laundering and know your customer fines totalled $5.6bn so far...

The total value of fines issued so far in 2020 against companies failing to comply with anti-money laundering and know your customer rules totalled $5.6bn, with APAC regulators dramatically increasing their sanctions.

Global money laundry fines totalled $8.14bn in 2019

From: RegTech Analyst The number of money laundering fines around the world doubled in 2019, according to new research from Encompass, the RegTech startup. The company found...

HSBC and Santander to refund customers after breaching CMA rules

HSBC and Santander are to refund their customers after they both failed to comply with the Competition and Market Authority’s (CMA) rules.

Top 10 largest GDPR fines now total €402.6m

Fines for the General Data Protection Regulation (GDPR) might be as numerous or large as initially anticipated, but there have been some hefty penalties. The ten largest financial fines for GDPR failures total €402.6m.

FinCEN fines Bitcoin trader $35,000 for AML and BSA breaches

The US’ Financial Crimes Enforcement Network (FinCEN) has fined a Bitcoin trader $30,000 for breaching the Bank Secrecy Act’s (BSA) registration, program, and reporting requirements.

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