By Jeff Dale2023-08-03T19:23:00
A Middle Eastern unit of international banking group Mirabaud was ordered to pay a $3 million fine for inadequate anti-money laundering (AML) controls by the Dubai Financial Services Authority (DFSA).
The DFSA levied the penalty at a discounted rate of 30 percent, not including nearly $1 million in disgorgement the Switzerland-based banking group must pay, the regulator said in a press release Tuesday.
“The level of penalty imposed on Mirabaud reflects the importance of AML compliance in maintaining confidence in the integrity of the [Dubai International Financial Center],” said Ian Johnston, DFSA chief executive, in the release.
2023-09-18T20:32:00Z By Jeff Dale
A registered representative at an unnamed brokerage firm will pay $20,000 to settle charges by the Securities and Exchange Commission that he failed to notify the firm’s anti-money laundering department of apparent suspicious transactions.
2023-07-31T16:06:00Z By Jeff Dale
The United Arab Emirates has moved forward with plans to establish federal prosecution entities specializing in economic crimes and money laundering.
2023-07-20T14:30:00Z By Kyle Brasseur
Germany’s market regulator BaFin announced the extension of mandates it ordered at mobile bank N26 in 2021 to require the bank to address observed weaknesses in its anti-money laundering controls.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
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