by Jyotsna Bucktowar | Aug 28, 2024
The New York’s Department of Financial Services (NYDFS) identified billions in high-risk transactions from 2008 to 2019, especially through Nordea’s closed branch in Denmark and its Baltic operations, linking the bank to illicit funds tied to Russia and Azerbaijan....
by Jyotsna Bucktowar | Aug 28, 2024
TD Bank, Canada’s second-largest bank is likely to appoint a new CEO next year, possibly an external candidate with U.S. expertise, after addressing its AML gaps.TD Bank has earmarked US $3 billion to cover potential fines from U.S. regulators investigating its...
by Jyotsna Bucktowar | Aug 16, 2024
PwC encountered significant issues throughout their 2016 audit of LCF. A senior individual at LCF acted aggressively towards auditors, and the firm provided PwC with inaccurate and misleading information. PwC found the audit very complex, and it took considerably...
by Jyotsna Bucktowar | Jul 25, 2024
FCA fined CB Payments Limited, a London-based affiliate of Coinbase, £3.5m for repeatedly violating restrictions on serving high-risk customers. CBPL does not handle cryptocurrency transactions directly, it acts as a gateway for trades conducted through other...
by Jyotsna Bucktowar | Jul 10, 2024
Comptroller of the Currency Michael Hsu criticized Citigroup for failing to fully address deficiencies in risk control and data management, urging a refocus and proper resource allocation. Despite CEO Jane Fraser’s noted progress, regulatory issues persist, with...
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