UK Challenger Bank Monzo Penalized £21.1M Over Serious Anti-Money Laundering Compliance Failures
In a stark warning to fintech firms navigating financial regulation, the UK’s Financial Conduct Authority (FCA) has imposed a hefty £21.1 million fine on...
UOB Downplays S$5.6 Million AML Fine, Cites It as a Manageable Setback Amid Strengthened Compliance Efforts
United Overseas Bank (UOB) has responded to the Monetary Authority of Singapore’s S$5.6 million penalty by stating that the fine is a manageable setback...
Singapore Slaps Nine Financial Firms with S$27.45 Million in Penalties Over Money Laundering Failures
The Monetary Authority of Singapore (MAS) has imposed S$27.45 million in penalties on nine financial institutions for serious breaches in anti-money laundering (AML) and...
FATF Broadens Financial Inclusion Agenda with New AML/CFT Guidance
The Financial Action Task Force (FATF) has released updated guidance aimed at aligning anti-money laundering (AML) and counter-terrorist financing (CTF) measures with global financial...
Netherlands Sees Record Surge in Suspicious Transaction Reports as Financial Scrutiny Intensifies
In 2024, the Netherlands recorded an unprecedented spike in suspicious transaction reports (STRs), with its Financial Intelligence Unit (FIU) receiving nearly 3.5 million submissions—a...
