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The number of money laundering fines around the world doubled in 2019, according to new research from Encompass, the RegTech startup.
HSBC and Santander are to refund their customers after they both failed to comply with the Competition and Market Authority’s (CMA) rules.
The Reserve Bank of India (RBI) has imposed a ₹70m monetary penalty on the State Bank of India for failing to comply with the standards set up by the central banking institution.
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.
Prosecutors in the Netherlands are reportedly investigating claims of Dutch involvement in a money laundering network which funnelled Euros from Russia.
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