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Lack of secure archive and other failings lead to fine for investment adviser in France
Carat GP and its two directors have incurred a fine of €2.5m. The firm and one of its directors have also been barred by the AMF.
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JPMorgan Chase fined record €45m by German regulator for AML failures
Wall Street’s largest bank has been accused of delays in SAR submissions in relation to anti-money-laundering and terrorist financing obligations.
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FCA to supervise financial services firms for AML/CTF compliance
Proponents of the announcement believe it will help prevent money laundering; critics argue the FCA may not have the capacity to do a supervisory job.
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FINTRAC’s administrative monetary penalties program – when you fail to comply
FINTRAC offers regulated entities a framework for how it determines an administrative monetary penalty in cases of noncompliance.
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EBA opinion highlights emerging ML/TF risks in EU’s financial sector
The EBA’s fifth biennial report reveals a complex risk landscape.
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Singapore financial regulator takes financial institutions to task for anti-money laundering breaches
Large fines from the MAS send a clear signal to firms to ensure their AML compliance frameworks are up to scratch.
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Canada’s FINTRAC issues evasion of counter proliferation sanctions bulletin
The bulletin explains the characteristics of financial transactions related to terrorist financing to facilitate their detection, and deflection.
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US Treasury escalates financial offensive against fentanyl networks
Sanctions against Mexican financial institutions mark a decisive shift toward targeting the financial arteries of the global drug trade.