New York Attorney General Sues Citibank Over Alleged Negligence in Protecting Customers from Fraud
The Attorney General of New York has filed a lawsuit against Citibank, alleging negligence in safeguarding customers against fraudulent activities and scams.
JP Morgan Fined $18 Million by SEC for Obstructing Reporting of Legal Breaches
JP Morgan has been fined $18 million by the Securities and Exchange Commission (SEC) for impeding clients and brokerage customers from reporting legal breaches to regulatory authorities. The payments giant has consented to paying the penalty charge.
Apex launches standalone ESG unit, Holtara
Source: Holtara
Today sees the launch of new sustainability services brand, Holtara.
Basel Committee tightens criteria for preferential regulatory treatment of stablecoins
Source: Bank for International Settlements
The Basel Committee on Banking Supervision today published a consultative document to propose targeted adjustments to its standard on banks' exposures to cryptoassets.
US court approves CFTC settlement against Binance and $2.7 billion penalty
Source: CFTC
The Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Illinois has approved the previously announced settlement and entered a consent order of permanent injunction, civil monetary penalty, and equitable relief against Changpeng Zhao and his companies Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited (together, Binance).
US Bank hit with multi-million dollar fines over prepaid card program for the unemployed
Source: OCC
The Office of the Comptroller of the Currency (OCC) today assessed a $15 million civil money penalty against U.S. Bank, National Association, Cincinnati, Ohio, for violations of law relating to the bank’s administration of a prepaid card program to distribute public unemployment insurance benefit payments.
RBC fined $7.5 million over AML violations
Source: Fintrac
FINTRAC announced today that it has imposed an administrative monetary penalty on the Royal Bank of Canada (RBC).
Binance CEO Pleads Guilty and Pays $4.3 Billion to Settle US AML Charges
In a significant development, the CEO of Binance, one of the world's largest cryptocurrency exchanges, has pleaded guilty to charges related to Anti-Money Laundering (AML) violations in the United States. The plea comes with a hefty settlement of $4.3 billion, marking a substantial penalty for the alleged transgressions.
