The New York Department of Financial Services said Tuesday that Standard Chartered Bank will pay $300 million for “failures to remediate anti-money laundering compliance problems” required by the bank’s 2012 settlement with the same regulator.… Continue Reading
New York’s Department of Financial Services said Monday that PricewaterhouseCoopers (PwC) Regulatory Advisory Services has been suspended for two years for helping whitewash a sanctions and anti-money laundering compliance report from the Bank of Tokyo Mitsubishi (BTMU).… Continue Reading
After a multi-year investigation into Credit Suisse’s use of illegal offshore bank accounts, the DOJ Monday announced the bank’s guilty plea and the largest-ever monetary penalty in a criminal tax case.… Continue Reading
U.S. authorities are seeking more than $3.5 billion from BNP Paribas SA to resolve federal and state investigations into the bank’s dealings with sanctioned countries, including Sudan, Iran and Cuba.… Continue Reading
BNP Paribas has set aside $1.1 billion for a potential settlement with federal and state government agencies that are investigating possible U.S. sanctions violations.
New York state’s top financial regulator plans to propose rules this year regulating Bitcoin businesses operating in the state.
This would make New York the first state to do so, and given the state’s prominence as a financial hub, it’s a big step for the virtual currency.… Continue Reading