By Neil Hodge2023-01-11T21:45:00
The U.K.’s financial regulator fined Al Rayan Bank more than 4 million pounds (U.S. $4.9 million) for its lack of adequate anti-money laundering controls.
Between April 2015 and November 2017, Al Rayan—a subsidiary of Masraf Al Rayan, a Qatar-based Islamic bank—allowed money to pass through the bank without adequately checking customers’ source of wealth or source of funds—two basic requirements to ensure money is not connected to financial crime.
The Financial Conduct Authority (FCA) also found an increased possibility of money laundering and financial crime risk because staff were not properly trained about the risks associated with accepting large deposits.
2023-02-14T19:46:00Z By Neil Hodge
Amigo Loans faced a penalty of £72.9 million (U.S. $88.7 million) after the U.K. Financial Conduct Authority found it used automated decision-making to drive sales over ensuring whether customers posed credit risks.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
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