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...
by Jyotsna Bucktowar | Jul 8, 2024
The €3m fine, issued in May followed an inspection at BGL BNP Paribas from May to November 2021. It is among the largest penalties by the CSSF, which fined Banque Internationale a Luxembourg €4.6m in 2020 for similar breaches. The bank also breached laws by...
by Jyotsna Bucktowar | Jul 8, 2024
The Guardian found out that more than 200,000 individuals underwent unnecessary investigations for housing benefit fraud and error due to major flaws in a government algorithm. Data obtained under freedom of information laws shows that two-thirds of claims flagged as...
by Jyotsna Bucktowar | Jul 7, 2024
by Jyotsna Bucktowar | Jul 6, 2024
The 2023 report from the Bank of Italy’s Financial Intelligence Unit noted the discovery of unusual financial flows, without specifying details of the suspected transfers or the countries involved, particularly those heading to Russia. Each year, the report...
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