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Fines & Enforcements

Over 40 years of articles and reference material

A page dedicated to global, regional, UK and US anti-money laundering developments and initiatives.

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FCA fines NatWest over AML failures

NatWest fined £264.8 million after failing to comply with account-monitoring requirements, becoming the first bank to be criminally convicted under the UK's AML regulations. The ‘red flags’ that were reported included significant amounts...
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GRECO Fifth Round Compliance Report on Sweden

GRECO recommended developing and implementing a strategy, based on a risk analysis, to promote integrity and improve the prevention and management of conflicts of interest and corruption among persons entrusted with top executive functions...
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US Treasury expands Syria NGO General License

OFAC amended existing rules called the Syrian Sanctions Regulations to expand the authorizations for NGOs to engage in certain transactions and activities. It also amended a general license for NGOs to enable them to take part in additional transactions and activities...
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Bicycle Casino pays $500,000 settlement after AML investigation

ICE announces $500,000 settlement with Los Angeles casino which agreed to submit to increased review of its AML compliance program. The breaches took place after Bicycle Casino failed to appropriately file reports on an individual who conducted millions of dollars worth of cash transactions...
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SFO reclaims £100,000 from Unaoil executive

Following a successful investigation and conviction of four individuals for corruption at Unaoil, the SFO has recovered criminal gains of almost £100,000 from a former senior executive. The SFO secured a court order to recover the funds, which will be paid into the public purse.
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World Bank debars management advisory firm for conflict of interest violations

The World Bank debarred ADP for one year and nine months for a fraudulent practice connected to a project in Somalia. ADP omitted to disclose a conflict-of-interest relationship when submitting a proposal for a contract under the project, which is a fraudulent practices...
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Credit Suisse due dilligence failings

The FCA has fined Credit Suisse for serious financial crime due diligence failings related to loans which the bank arranged for Mozambique...
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NatWest Money Laundering charge

The FCA alleges that NatWest failed to conduct proper due diligence and monitoring of its dealings with customers to prevent money laundering..
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ABN Amro has agreed to pay the fine as disgorgement reflecting “the seriousness, scope and duration of the identified shortcomings...
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Spotlight on the Arts Market

NatWest latest fines shine on the arts market. The FCA said the ML rules require firms to 'determine, conduct and demonstrate risk-sensitive ...
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DB bribery fines by US court

Court papers alleged that Deutsche Bank bribed intermediaries to make deals in Saudi Arabia, labeling the payments of up to $1.1m...
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