- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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