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Regulators Order Wells Fargo to Monitor Financial Crime

by Starling Insights

Observations

Nov 28, 2023

As reported by the Wall Street Journal, regulators have sent Wells Fargo several letters ordering it to improve its ability to monitor financial crime. This comes as the bank is facing a lawsuit for allegedly allowing a $490 million Ponzi scheme to operate using its systems.

The 2023 Compendium is available now!

Now in its 6th year, Starling's Compendium features over 40 contributors from across the industry as well as detailed analysis of the latest trends in culture & conduct risk supervision.

MAS Levies Four Money Laundering Fines

by Starling Insights

Observations

Jun 27, 2023

The Monetary Authority of Singapore (MAS) has imposed fines totaling $2.83 million on Citibank, DBS, OCBC, and Swiss Life for breaching anti-money laundering and countering terrorism financing requirements. The penalties resulted from inadequate controls discovered during MAS' investigation into the Wirecard fraud scandal.