Tag: fines

Theta Lake recently provided a deeper look into the high level of fines that are being aimed at financial institutions. 

The UK’s Financial Conduct Authority (FCA) has fined another financial institution for anti-money laundering (AML) failings.

RegTech company SteelEye has warned that small companies will soon be in the firing line for fines for failing to comply with off-channel communication.

Five US investment bank giants are reportedly faced with $1bn in fines for failing to monitor employees using unauthorised messaging apps.

The UK’s Payment Systems Regulator (PSR) has issued fines to Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion.

Annual General Data Protection Regulation (GDPR) fines exceeded €1bn for the first time since the regulation was implemented in 2018, Atlas VPN claims.

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.

Robinhood to pay nearly $70m to resolve sweeping regulatory allegations that the brokerage misled customers, approved ineligible traders for risky strategies and didn’t supervise technology that failed and locked millions out of trading.

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

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.