Our extensive knowledge at your fingertips
Fines & Enforcements
This section includes initiatives by the FCA, ICO, Gambling Commission, SEC, US DoT among others.
Financial Conduct Authority (FCA)
Information Commissioner’s Office (ICO)
Gambling Commission
U.S Department of the Treasury – Penalties and Enforcement Information
U.S. Securities and Exchange Commission (SEC)
And many more…
Sections
Latest editions
Search
Topics
- Topics
- Accountability
- AML/CTF
- AML/CTF compliance programme
- Anti-corruption
- Artificial intelligence
- Asset Recovery
- Beneficial Ownership
- Biodiversity
- Blockchain
- Bribery & Corruption
- Bribes
- CDD
- Complex structures
- Confiscation & Freezing
- conflict minerals
- Conflict of Interest
- Correspondent Banking
- Corruption
- Counterfeiting
- Crime
- Cross-border finance
- Cryptoassets
- Cryptocurrencies
- Cybercrime
- Data Protection
- Deepfakes
- Democracy
- Digital assets
- Digitalisation
- Drug Trafficking
- EDD
- Enforcement
- Environmental crime
- ESG
- Ethics
- EU ML Directive
- FCPA
- Financial Crime
- Financial Inclusion & Literacy
- Financial Sanctions
- Fines & Enforcements
- FinTech
- FIU
- Fraud
- Gambling
- Greenwashing
- Human Rights
- Human Trafficking
- Illicit Finance
- Illicit Trafficking
- Information Sharing
- Integrity
- Intellectual property
- Investigations
- kleptocracy
- KYC
- Land justice
- Machine Learning
- market manipulation
- Modern Slavery
- Money Laundering (ML)
- NPOs
- Offshore
- OHCHR
- Onboarding
- Organised crime
- Other
- Payments
- PEPs
- Proliferation
- Proliferation of WMD
- Public Officials
- Ransomware
- RegTech
- Risk
- robotics
- Sanctions
- Senior Managers & Certification Regime (SMCR)
- Shell Companies
- Source of wealth & funds
- Stablecoins
- Supervision
- Suspicious Activity Reports (SARs)
- Suspicious Transaction Reports (STRs)
- Tax
- Tax Evasion
- Technology
- Terrorist Financing
- Trade Finance
- Trafficking
- Transaction Monitoring
- Transfers
- Transnational crime
- Transparency
- Travel
- Unexplained Wealth Order
- Virtual Assets
- Virtual currencies
- Whistleblowing
- Wildlife crime
Industry
Organisation
- Organisation
- ABA
- AFA
- AFME
- Afripol
- AMLA
- AMLP
- APPG
- ASC
- Asia Pacific Group on Money Laundering
- ASIC
- Atlantic Council
- AUSTRAC
- Austria FMA
- B20
- BAFIN
- BAFM
- Bank of England
- Basel
- BGC
- BIS
- BMA
- BoIJ
- CBUAE
- CCAF
- CFATF
- Charity Commission
- Chatham House
- City of London Police
- CMA
- Companies House
- Corruption Watch
- Council of Europe
- Council of the EU
- CPA
- CPS
- CSSF
- DEA
- Department of Business
- DFSA
- DIT
- DRCF
- EBA
- EBF
- ECB
- EFCC
- EGBA
- Egmont Group
- EPPO
- ESA
- ESAAMLG
- ESMA
- EUDA
- Eurojust
- EuroPAM
- European Anti-Fraud Office (OLAF)
- European Commission
- European Council
- European Parliament
- European Union (EU)
- Europol
- FATF
- FBI
- FCA
- FCDO
- FCO
- FDIC
- Federal Reserve
- Fenergo
- FFIS
- FIAU
- FinCEN
- FINMA
- FINRA
- FINTRAC
- FIU
- FIU-IND
- FRA
- FSA / FCA
- FSB
- FSC
- FSMA
- G20
- G7
- GABAC
- GAFILAT
- Gambling Commission
- GASA
- GCFCC
- GFI
- GI-TOC
- GIABA
- Global Initiative
- Global Integrity
- Global Witness
- GRECO
- GRETA
- HKMA
- HKSFC
- HM Treasury
- HMCPSI
- HMRC
- Home Office
- House of Commons
- House of Lords
- ICAEW
- ICC
- ICE
- ICIJ
- ICO
- IDB
- IMF
- IMLIT
- Insurance Europe
- Interpol
- IOM FSA
- IPO
- ISO
- J5
- JFSC
- JMLSG
- KoFIU
- KSA
- Law Commission
- Law Society
- MAS
- MENAFATF
- Met Police
- MONEYVAL
- NAO
- NASC
- Nasdaq Verafin
- Nature Needs More
- NCA
- NECC
- NED
- Netherlands FIOD
- Nice Actimize
- NYDFS
- OAG
- OCC
- OCCRP
- OECD
- OFAC
- OFSI
- OLAF
- OPBAS
- OSCE
- Other
- OTSI
- PNF
- PRA
- project CRAAFT
- PSR
- PwC
- RBI
- RUSI
- Sayari
- SEBI
- SEC
- SEPA
- SFO
- Singapore Police Force
- Spotlight on corruption
- SRA
- Sweden FI
- Swiss Federal Council
- Swiss OAG
- Tax Justice Network
- TFG
- TRACE
- TRACFIN
- Traffic
- Transparency International
- TRNC
- TRP
- UK Border Force
- UK Finance
- UK Govt
- UK Police Foundation
- UKACC
- UKPI
- UN
- UNODC
- US BIS
- US DEA
- Us DoC
- US DoJ
- US DoS
- US Govt
- US Sec
- US Senate
- US Treasury
- USAID
- VISA
- Wall Street Journal
- WCO
- White House
- Wolfsberg
- World Bank
Jurisdiction
- Jurisdiction
- Afghanistan
- Andorra
- Asia
- Australia
- Austria
- Belarus
- Belgium
- Berlin
- Bermuda
- Botswana
- Brazil
- Bulgaria
- Canada
- Cayman Islands
- China
- Colombia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- EU
- Finland
- France
- Germany
- Ghana
- Gibraltar
- Global
- Greece
- Guernsey
- Hong Kong
- India
- Iran
- Ireland
- Isle of Man
- Israel
- Japan
- Jersey
- Kenya
- Lithuania
- Luxembourg
- Malaysia
- Malta
- Mauritiania
- Mexico
- Middle East
- Monaco
- Myanmar
- Netherlands
- New Zealand
- Nigeria
- North Korea
- Norway
- Other
- Poland
- Romania
- Russia
- San Marino
- Singapore
- Slovakia
- Slovenia
- South Africa
- Spain
- Sudan
- Sweden
- Switzerland
- Turkey
- UAE
- UK
- Ukraine
- Uruguay
- US
- Uzbekistan
- Venezuela
- Vietnam
HKMA takes disciplinary action against China CITIC Bank International Limited for contraventions of AML and CTF ordinance
Between November 2015 and July 2018, CITIC’s transaction monitoring system failed to detect suspicious activities due to incorrect implementation of detection rules. Additionally, it did not adequately investigate or document the background and purpose of certain transactions.
SEC charges Morgan Stanley Smith Barney for failing to supervise its Financial Advisors who stole clients funds and for failing to adopt policies and procedures designed to prevent and detect such theft
To settle the charges, MSSB agreed to pay a $15 million penalty and accept certain undertakings. The primary issue was the lack of proper controls over ACH payments and wire transfers, enabling financial advisors to divert funds to themselves…
FCA fines Barclays £40m for breaches of the Listing Rules, relating to the failure to disclose certain arrangements with Qatari entities
The FCA held that Barclays failed to take reasonable care to ensure that the information contained in the announcements and prospectuses was not misleading, false or deceptive and did not omit anything likely to affect its import. It said that the advisory agreements formed part of the basis on which the Qatari entities agreed to participate in the capital raisings…
FCA fines Metro Bank £16m for financial crime failings
Metro Bank failed to monitor over 60 million transactions worth £51 bn for ML risks due to flaws in its automated system. Despite staff raising concerns, the issue wasn’t fixed until 2019, and Metro lacked a consistent mechanism to check the system until December 2020. The FCA emphasized the importance of effective systems to prevent financial crime, and Metro has since taken steps to address…
FCA fines Macquarie Bank Limited £13m for serious failings that allowed one of its employees to record over 400 fictitious trades
Serious control failures allowed fictitious trades by a rogue trader, costing the firm $57.8M to unwind and leading to enhanced oversight lessons…
FCA fines Barclays £4om in total for its failure to disclose certain arrangements with Qatari entities in 2008
The action was based on findings which included that Barclays’ conduct in its October 2008 capital raising was reckless and lacked integrity
US DoJ announces the arrest of a high-ranking Mexican cartel leader on ML and drug trafficking charges after faking own death
Cristian Fernando Gutierrez-Ochoa — a high-ranking member of the Cártel de Jalisco Nueva Generación (CJNG) and the son-in-law of the CJNG’s leader, Nemesio Oseguera Cervantes, also known as El Mencho — is charged with conspiracy to distribute five kilograms or more of cocaine and 500 grams or more of methamphetamine
OFAC settles with American Life Insurance Company for $178,421, related to apparent violations of Iranian transactions and sanctions regulations
ALICO processed insurance policies and claims for entities linked to the Government of Iran (GOI) without proper screening, violating U.S. sanctions regulations. The violations occurred over an 18-month period, and despite the company’s efforts to rectify the situation, several premiums and claims continued to be processed for these blocked entities…
US DoJ sentences Operator of Helix Darknet Cryptocurrency “Mixer” in ML conspiracy and ordered to forfeit over $400M in assets
A dual Russian-Swedish national was sentenced today to 12 years and six months in prison for his operation of the longest-running bitcoin money laundering service on the darknet. According to court documents and evidence presented at trial, from 2011 through 2021, Roman Sterlingov, 36, was involved in operating Bitcoin Fog, the darknet’s longest-running cryptocurrency “mixer.” Over the course of its decade-long operation, Bitcoin Fog gained notoriety as a go-to money laundering service for criminals seeking to hide their illicit proceeds from law enforcement and processed transactions involving over 1.2 million bitcoin….
US DoJ slams TD Bank executives to escape accountability and bypass the “bank death penalty” through legal maneuvers
Senator Elizabeth Warren condemned the DOJ for letting TD Bank avoid severe penalties in a money laundering case while sparing top executives from accountability. She cited the bank’s role in ML over US $670 million and questioned the DOJ’s commitment to holding individuals responsible. Warren warned that without executive accountability, fines will merely be treated as a business expense rather than a deterrent…
FinCEN assesses $900,000 civil money penalty against Lake Elsinore Hotel and Casino for BSA violations
As part of its resolution with FinCEN, Lake Elsinore admitted to willful violations of the BSA, including failing to implement and maintain an effective AML program, failing to file currency transaction reports (CTRs) and suspicious activity reports (SARs), and certain recordkeeping failures. In addition to the civil money penalty, Lake Elsinore will also be subject to an AML program review….
Hong Kong Customs detects money laundering case involving about $1.6b
Hong Kong Customs mounted an operation codenamed “Spark II” resulting in the arrest of five local men, aged between 34 and 71, for conspiracy or aiding to “deal with property known or reasonably believed to represent proceeds of an indictable offence” (commonly known as money laundering) under the Organized and Serious Crimes Ordinance (OSCO).