By Aaron Nicodemus2024-01-19T18:43:00
The Industrial and Commercial Bank of China (ICBC) and its New York branch agreed to pay $32.4 million in penalties levied by two regulators for failing to address long-standing compliance failures and for the unauthorized disclosure of confidential supervisory information (CSI) to an overseas regulator.
The New York State Department of Financial Services (NYDFS) fined the ICBC $30 million for failing to correct deficiencies found in its anti-money laundering (AML) and sanctions screening processes over several examination cycles from 2018-22, according to a press release Friday.
The Federal Reserve Board separately announced a $2.4 million fine against the ICBC for the unauthorized use and disclosure of CSI.
2024-08-28T17:41:00Z By Aaron Nicodemus
Finland-based Nordea Bank will pay $35 million to resolve an investigation by the New York Department of Financial Services into “significant compliance failures” in its anti-money laundering and Bank Secrecy Act program.
2024-03-04T19:39:00Z By Jeff Dale
Metropolitan Commercial Bank announced the appointments of a chief risk officer and Bank Secrecy Act/anti-money laundering officer to bolster its reporting lines following a $30 million enforcement action from federal and state authorities last year.
2024-03-01T17:18:00Z By Jeff Dale
Financial technology firm Green Dot Corp. estimated a pending consent order with the Federal Reserve Board will require a payment of between $20 million to $50 million.
2025-08-25T20:49:00Z By Adrianne Appel
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
2025-08-25T18:24:00Z By Adrianne Appel
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
2025-08-25T15:51:00Z By Adrianne Appel
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
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