US Bank CapitalOne faces $290M penalty for AML failures; FinCEN describes ‘egregious’ violations of rules over a six-year period

Regulatory Watch News

• 

  FCA bans former Credit Suisse vice president following US criminal conviction

  Financial Conduct Authority

  May 23, 2025

  Ms. Subeva is the third former Credit Suisse employee banned for lacking integrity, following their US convictions for conspiracy to commit money laundering connected to corrupt loans to the Republic of Mozambique. On 20 May 2019, Ms Subeva pleaded guilty in the US for her role in a conspiracy to commit money laundering, which included accepting and retaining US$200,000 from one of her co-conspirators in unlawful kickbacks in connection with the loans

• 

  Operation ENDGAME strikes again: the ransomware kill chain broken at its source

  Europol

  May 23, 2025

  Cybercriminals around the world have suffered a major disruption after law enforcement and judicial authorities, coordinated by Europol and Eurojust, dismantled key infrastructure behind the malware used to launch ransomware attacks. From 19 to 22 May, authorities took down some 300 servers worldwide, neutralised 650 domains, and issued international arrest warrants against 20 targets, dealing a direct blow to the ransomware kill chain.

• 

  Announcement: FMA imposes sanction against Raiffeisen-Landesbank Steiermark AG for breaching due diligence obligations for the prevention of money laundering and terrorist financing

  FMA

  May 23, 2025

  The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 40,000 against Raiffeisen-Landesbank Steiermark AG. The proceedings were concluded in an accelerated manner pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The reason for the fine is a breach of the Financial Markets – Anti-Money Laundering Act (FM-GwG). Specifically, Raiffeisen-Landesbank Steiermark AG failed to continuously apply its policies and procedures regarding customer due diligence for monitoring of the business relationship on an ongoing basis. The penal order is final.