Swiss FINMA reiterates its stance on threshold for virtual currency transactions
FINMA stands by the rule that technical measures are needed to prevent the breach if threshold of CHF 1000 for linked transactions within 30 days.
AML
FCA fines Gatehouse Bank £1.58M for deficiencies in AML policies
The FCA found serious shortcomings in Gatehouse’s AML policies and procedures in the period from 9 June 2014 to 5 July 2017.
HK regulator imposes HK$6 million fine on Commerzbank
The Monetary Authority takes disciplinary action against Commerzbank AG, Hong Kong Branch for contraventions of the AML/CTF Ordinance.
FCA imposes £5.8m fine on Ghana International Bank Plc for AML control deficiencies
The FCA has fined Ghana International Bank Plc £5,829,900 for poor anti-money laundering and counter-terrorist financing controls.
KBC Group launches its own AI fintech, DISCAI
Through DISCAI, KBC Group commercialises its portfolio of AI apps, starting with an AI app against money laundering.
FCA imposes £63.9M fine on HSBC for AML failings
The FCA has fined HSBC Bank plc £63,946,800 for failings in its anti-money laundering (AML) processes.
AUSTRAC identifies serious concerns with NAB’s AML law compliance
AUSTRAC has identified serious concerns with NAB’s compliance with the AML and Counter-Terrorism Financing (CTF) Act 2006.
BitMEX owners charged for illegally operating a crypto trading platform
BitMEX has made more than $1 billion in fees, while conducting significant aspects of its business from the U.S.
MetaQuotes leads $6 million funding in KYC/AML co Sumsub
Sumsub provides an efficient AI-powered identity verification and compliance risk management toolkit for KYC/AML purposes.
Interactive Brokers fined $38 million for “widespread AML failures”
IBKR did not reasonably surveil hundreds of millions of dollars of its customers’ wire transfers for money laundering concerns.
