Tag: fines
Citi fined $135.6m for ongoing risk management and data governance deficiencies
Citi has been fined $135.6m by US regulators for not making sufficient progress in addressing risk management and data governance deficiencies, four years after a...
The critical role of risk assessment in preventing financial crime
In the rapidly evolving financial services industry, the importance of effective risk assessment is often overlooked.
The SEC and CFTC crack down: Record-keeping fines soar beyond $2.5bn
Theta Lake recently provided a deeper look into the high level of fines that are being aimed at financial institutions.
FCA fines AI Rayan Bank £4m for AML failings
The UK’s Financial Conduct Authority (FCA) has fined another financial institution for anti-money laundering (AML) failings.
Small firms could be next for off-channel communication fines
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.
5 US investment banks face $1bn in fines
Five US investment bank giants are reportedly faced with $1bn in fines for failing to monitor employees using unauthorised messaging apps.
Payment Systems Regulator fines five companies in prepaid card cartel
The UK’s Payment Systems Regulator (PSR) has issued fines to Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion.
Annual GDPR fines exceed €1bn for first time
Annual General Data Protection Regulation (GDPR) fines exceeded €1bn for the first time since the regulation was implemented in 2018, Atlas VPN claims.
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.
FINRA fines Robinhood $70m for misleading customers in largest-ever penalty
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.
