ComplianceAid - ComplianceAid Website

European Commission fines International Flavors & Fragrances €15.9 million for deleting WhatsApp messages

June 24, 2024ComplianceAidNews

On June 24, 2024, “The European Commission has fined International Flavors & Fragrances Inc. and International Flavors & Fragrances IFF France SAS (together ‘IFF') €15.9 million for obstructing a Commission inspection in 2023. The Commission found that during the inspection, a senior employee of IFF intentionally deleted WhatsApp messages exchanged with a competitor.” To...

U.S. The Federal Reserve Board (FRB) fines Evolve Bancorp, Inc & Evolve Bank & Trust

June 14, 2024ComplianceAidNews

June 14, 2024, The Federal Reserve Board issues an enforcement action against Evolve Bancorp, Inc. and Evolve Bank & Trust for deficiencies in the Bank’s Anti-Money Laundering, Risk Management & Consumer Compliance Programs. To Access full article: Click here

FinCEN Issues 2023 Year in Review

June 7, 2024ComplianceAidNews

On June 7th, 2024, the Financial Crimes Enforcement Network (FinCEN) issued its Year in Review for Fiscal Year 2023. To Access full article: Click here

FCA Fines Citigroup Global Markets Limited £27 Million

May 22, 2024ComplianceAidNews

The United Kingdom (UK), Financial Conduct Authority (FCA) fined Citigroup Global Markets (Citi) £27,766,200 for failures in the institutions’ systems and controls. To Access full article: Click here

SEC and FinCEN Proposed CIP New Rule

May 13, 2024ComplianceAidNews

On May 13, 2024, “the Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) jointly proposed a new rule that would require SEC-registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish, document, and maintain written customer identification programs (CIPs).” To Access full article: Click here

U.S. Department of the Treasury OFAC fines SCG Plastics Co. $20 Million

April 19, 2024ComplianceAidNews

April 19, 2024, The U.S. Office of Foreign Assets Control (OFAC), announced a $20,000,000 settlement with SCG Plastics Co., Ltd. ("SCG Plastics"), for its potential civil liability for 467 apparent violations of OFAC sanctions on Iran. To Access full article: Click here

Federal Reserve Board fines JPMorgan Chase & Co. $98.2 Million

March 14, 2024ComplianceAidNews

The Federal Reserve Board (FRB) issued an enforcement action against JPMorgan Chase & Co. and fined the firm approximately $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct. To Access full article: Click here

The Office of Foreign Assets Control (OFAC) fines EFG International AG for Apparent Violation of the Cuban Asset Control Regulations, the Kingpin Act, and Executive Order 14024

March 14, 2024ComplianceAidNews

March 14, 2024, The Office of Foreign Assets Control (OFAC), announced a $3,740,442 settlement with EFG International AG, a Switzerland-based global private banking group for processing 873 securities transactions in apparent violation of the Cuban Asset Control Regulations, the Kingpin Act, and Executive Order 14024. To Access full article: Click here

OCC fine JPMorgan Chase Bank, N.A. $250 Million Civil Money Penalty

March 14, 2024ComplianceAidNews

On March 14, 2024, “The Office of the Comptroller of the Currency (OCC) announced a $250 million civil money penalty against JPMorgan Chase Bank, N.A. (JPMC) related to deficiencies in its trade surveillance program.” To Access full article: Click here

FinCEN fines Credit Union BSA Compliance Officer $100,000

January 31, 2024ComplianceAidNews

On January 31, 2024, The “United States Department of the Treasury Financial Crimes Enforcement Network (FinCEN) assessed a $100,000 civil money penalty on Gyanendra Kumar Asre (Asre) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations.” To Access full article: Click here

1 2 3 … 6

European Commission fines International Flavors & Fragrances €15.9 million for deleting WhatsApp messages

U.S. The Federal Reserve Board (FRB) fines Evolve Bancorp, Inc & Evolve Bank & Trust

FinCEN Issues 2023 Year in Review

FCA Fines Citigroup Global Markets Limited £27 Million

SEC and FinCEN Proposed CIP New Rule

U.S. Department of the Treasury OFAC fines SCG Plastics Co. $20 Million

Federal Reserve Board fines JPMorgan Chase & Co. $98.2 Million

The Office of Foreign Assets Control (OFAC) fines EFG International AG for Apparent Violation of the Cuban Asset Control Regulations, the Kingpin Act, and Executive Order 14024

OCC fine JPMorgan Chase Bank, N.A. $250 Million Civil Money Penalty

FinCEN fines Credit Union BSA Compliance Officer $100,000

ComplianceAid BSA AML Services LLC

Newsletter

By

ComplianceAid BSA AML Services LLC

Follow us on

Newsletter

Joining Instructions