Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Analysis, Banking, Compliance, Financial Crime, Regulatory, US

INSIGHT: Wells Fargo’s new AML trouble may delay asset cap removal timeline, analysts predict

Premium September 13, 2024

AML TROUBLE: Exterior view of Wells Fargo and Co. headquarters in San Francisco's Financial District.

Premium

NEWS: None of 25 UK legal and accounting industry bodies meet money laundering standards

NEWS: Germany’s BaFin says senior bank staff should have better IT knowledge under new DORA rules

 Premium

NEWS: SAR from Dutch bank catches home care boss using public money to fund “luxury” lifestyle

By Manya Saini for AML Intelligence WELLS Fargo’s latest regulatory setback could delay the timeline for lifting the asset cap imposed by the U.S. Federal Reserve and stifle its growth, Wall Street analysts said today (Friday). Its ability to expand into risky businesses was restricted on Thursday by a U.S. banking regulator that found the…

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in
Premium

NEWS: None of 25 UK legal and accounting industry bodies meet money laundering standards

NEWS: Germany’s BaFin says senior bank staff should have better IT knowledge under new DORA rules

 Premium

NEWS: SAR from Dutch bank catches home care boss using public money to fund “luxury” lifestyle

Regulatory Watch News

  • EFCC Hands over Recovered Monetary Asset to Spanish Ambassador

    EFCC

    The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede on Friday, September 20, 2024 handed over €5100 (Five Thousand, One Hundred Euros) proceeds of crime to the Spanish Ambassador to Nigeria, His Excellency, Juan Ignacio Sell. The sum was recovered from a Nigerian romance fraudster for Heinz Burchard Einhaus Uchtmann, a Spanish victim by the EFCC in collaboration with the Spanish Police.

  • HKMA commences Phase 2 of e-HKD Pilot Programme and expands Project e-HKD to explore new forms of digital money

    HKMA

    The Hong Kong Monetary Authority (HKMA) today (23 September) commenced Phase 2 of the e-HKD Pilot Programme (Phase 2) to delve deeper into innovative use cases for new forms of digital money, including e-HKD and tokenised deposits, that can potentially be used by individuals and corporates.  As Project e-HKD expands its coverage from e-HKD only to a more comprehensive exploration of the digital money ecosystem, the project has been renamed as Project e-HKD+, reflecting the evolving fintech landscape and the HKMA’s commitment to unlocking the full potential of digital money.

  • FINTRAC imposes an administrative monetary penalty on Coinseason Capital Inc.

    FINTRAC

    FINTRAC announced today that it has imposed an administrative monetary penalty on Coinseason Capital Inc. This money services business in Richmond, British Columbia, was imposed an administrative monetary penalty of $33,000 on May 31, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. Coinseason Capital Inc. was found to have committed the following administrative violation:

    • Failure to renew their registration as a money services business with the Centre.
    The administrative monetary penalty has been paid in full by Coinseason Capital Inc. and proceedings have ended.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us