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NEWS: Banks should ‘do more where necessary, and less where possible’ – former BNG CEO

Premium October 10, 2024

Gita Salden, the former CEO of Dutch lender BNG Bank

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NEWS: SRA fines law firm boss £4m over Kingly Solicitors collapse

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NEWS: Coinbase warns of up to $400M hit from cyberattack

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INSIGHT: How AMLA will replace Marcus Pleyer on its Executive Board

BY PAUL O’DONOGHUE, Senior Correspondent

Gita Salden, the former CEO of Dutch lender BNG Bank, said lenders should focus on upholding a ‘risk-based approach’ to policing financial crime.

Salden was appointed as a board member to De Nederlandsche Bank, the central bank of the Netherlands, after leaving BNG earlier this year.

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Premium

NEWS: SRA fines law firm boss £4m over Kingly Solicitors collapse

 Premium

NEWS: Coinbase warns of up to $400M hit from cyberattack

 Premium

INSIGHT: How AMLA will replace Marcus Pleyer on its Executive Board

Regulatory Watch News

  • £2m fine for online operator Spreadex Limited

    Gambling Commission

    A gambling business will pay a £2,022,000 penalty after a Gambling Commission investigation revealed Anti-Money Laundering (AML) and social responsibility failings.

    Spreadex Limited – which operates from Spreadex.com – will also have to undergo a third-party audit to ensure it is effectively implementing its anti-money laundering and safer gambling policies, procedures and controls. The failures were revealed during a compliance assessment in July 2023 and relate to the operator’s Gambling Commission licence to offer casino and fixed odds betting.

  • Senior Appointment at the Hong Kong Monetary Authority

    HKMA

    The Hong Kong Monetary Authority (HKMA) announced today (16 May) that the Financial Secretary, on the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the extension of Mr Howard Lee’s appointment as Deputy Chief Executive for two years beyond the normal retirement age, effective October 2025.  Mr Lee will continue to be responsible for reserves management, financial infrastructure and fintech development at the HKMA.  He is also an Executive Director of the Hong Kong Mortgage Corporation Limited.

  • Treasury Disrupts Financial Facilitation Network Supporting Hizballah Terrorists

    OFAC

      WASHINGTON —Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is targeting two senior Hizballah officials and two financial facilitators for their roles in coordinating financial transfers for Hizballah.  These individuals, based in Lebanon and Iran, work closely with Hizballah leadership to send money to the group from overseas donors.  These donations are a significant portion of the terrorist group’s overall budget.  In addition to managing and processing funding for Hizballah within Lebanon, one of these individuals is responsible for overseeing financial activity for Hizballah-aligned groups around the world.

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