News - ComplianceAid Website

FinCEN announces $15 Million Civil Money Penalty against Shinhan Bank America for Violations of the Bank Secrecy Act

September 29, 2023ComplianceAidNews

On September 29, 2023, The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed a $15 million civil money penalty against Shinhan Bank America (SHBA) for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. To Access full article: Click here

Deutsche Bank Subsidiary DWS will pay $25 Million for Anti-Money Laundering Violations and Misstatements Regarding Environmental, Social, and Governance (ESG) Investments

September 25, 2023ComplianceAidNews

The U.S. Securities and Exchange Commission charged registered investment adviser DWS Investment Management Americas Inc. (DIMA or DWS), a subsidiary of Deutsche Bank AG, in two separate enforcement actions, one addressing its failure to develop a mutual fund Anti-Money Laundering (AML) program, and the other concerning misstatements regarding its ESG investment process. To settle the...

The Office of Foreign Assets Control (OFAC) fines Wells Fargo Bank, N.A. (“Wells Fargo”) $30,000,000 for Apparent Violation of Sanctions

March 30, 2023ComplianceAidNews

On March 30, 2023, The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a settlement with Wells Fargo Bank, N.A. (“Wells Fargo of $30,000,000 to settle apparent violations of sanctions against Iran, Syria, and Sudan. To Access full article: Click here

The Office of the Comptroller of the Currency (OCC) Issues Prohibition Order, Fines Former Wells Fargo Executive $17 Million

March 15, 2023ComplianceAidNews

On March 15, 2023, The Office of the Comptroller of the Currency (OCC) announced the issuance of a prohibition order and a $17 million civil money penalty by consent against Carrie Tolstedt, former head of Wells Fargo Bank, N.A.’s Community Bank, for her role in systemic sales practices misconduct. To Access full article: Click here

U.S. The Federal Reserve Board (FRB) fines Popular Bank 2.3 Million

January 24, 2023ComplianceAidNews

January 24, 2023, “The Federal Reserve Board (FRB), announced a fined against Popular Bank, of New York, New York, for $2.3 million for processing six Paycheck Protection Program (PPP) loans despite having detected that the loan applications contained significant indications of potential fraud and for failing to report the potential fraud in a timely manner....

The US Securities and Exchange Commission Charged Trade Coin Club and Three US Promoters $295 Million for Connection in a Bitcoin Ponzi Scheme

November 4, 2022ComplianceAidNews

November 4th, 2022, The United States Securities and Exchange Commission (SEC) announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault for their roles in Trade Coin Club, a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoins valued at $295 million at the time from more than 100,000 investors...

FinCEN issues Financial Trend Analysis of Ransomware related Bank Secrecy Act (BSA) data

November 1, 2022ComplianceAidNews

On November 1st, 2022, “The Financial Crimes Enforcement Network (FinCEN) issued its most recent Financial Trend Analysis of ransomware-related Bank Secrecy Act (BSA) filings for 2021, indicating that ransomware continued to pose a significant threat to U.S. critical infrastructure sectors, businesses, and the public. The report focuses on ransomware trends in BSA filings from July-December...

Credit Suisse agreed to pay $234M to settle French Tax Fraud

October 24, 2022ComplianceAidNews

October 24th, 2022, French prosecutors stated Credit Suisse has agreed to pay 238 Million Euros ($234 million) to settle tax fraud allegations, the latest blow for the embattled Swiss bank. To Access full article: Click here

FinCEN Announces $29 Million Enforcement Action Against Virtual Asset Service Provider Bittrex for Bank Secrecy Act (BSA) violations

October 11, 2022ComplianceAidNews

On October 11th, 2022, The Financial Crimes Enforcement Network (FinCEN) assessed a civil money penalty in the amount of $29,280,829.20 against Bittrex, for violations of the Bank Secrecy Act (BSA) and FinCEN’s implementing regulations. FinCEN’s action is part of a global settlement with The U.S. Treasury Department, Office of Foreign Assets Control (OFAC). To Access...

The Office of Foreign Assets Control (OFAC) fines Bittrex, Inc. $24 Million for Apparent Violations of Multiple Sanctions Programs

October 11, 2022ComplianceAidNews

On October 11th, 2022, The U.S. Treasury Department, The Office of Foreign Assets Control (OFAC), announced that Bittrex, Inc. (“Bittrex”), a private company based in Bellevue, Washington, that provides an online virtual currency exchange and hosted wallet services has agreed to pay $24,280,829.20 to settle its potential civil liability for 116,421 apparent violations of multiple...

1 2 3 4 … 12