For compliance professionals and the programs they run, politically exposed persons are a big deal. PEPs trigger money laundering and corruption concerns and therefore attract enhanced due diligence. So, I always assumed PEPs are easy to identify.… Continue Reading
Barclays PLC paid the SEC $6.3 million Friday to settle FCPA offenses related to the hiring of relatives of public officials in Asia.
The British bank disgorged $3.8 million and paid a $1.5 million penalty to the SEC, plus pre-judgment interest of $984,000.… Continue Reading
Three former Credit Suisse bankers were charged in federal court in Brooklyn with bribery and fraud connected to Mozambique’s $2 billion “tuna bonds” scandal.
All three were arrested in London Thursday and released on bail.… Continue Reading
In a novel, even if rather obscure manner, the Trump Administration has found a new way to put America first.
Credit Suisse Group AG and its Hong Kong unit agreed Thursday to pay the DOJ and SEC $76.7 million for a referral hiring scheme that violated the Foreign Corrupt Practices Act.… Continue Reading
Banking giant Credit Suisse Group AG said Wednesday it has agreed to pay a $47 million penalty to the Justice Department to end an FCPA investigation into hiring practices in Asia.… Continue Reading
Banking giant Credit Suisse Group AG said Wednesday the DOJ and SEC are investigating its hiring practices in the Asia Pacific region.
The agencies want to know whether Credit Suisse hired referrals from government agencies and other state-owned entities “in exchange for investment banking business and/or regulatory approvals,” according to a fourth-quarter earnings release.… Continue Reading
Singapore’s central bank Tuesday fined Credit Suisse and United Overseas Bank for breaching anti-money laundering rules in connection with Malaysian sovereign wealth fund 1Malaysia Development Berhad.
The Financial Industry Regulatory Authority said Monday it fined Credit Suisse Securities (USA) LLC $16.5 million for anti-money laundering and supervision violations.
Credit Suisse’s suspicious activity monitoring program was deficient, FINRA said.… Continue Reading
Deutsche Bank Securities Inc. paid a $6 million fine for failing to provide complete and accurate trade data to FINRA and the SEC.
It was the biggest fine the Wall Street regulator has imposed for so-called blue sheet violations.… Continue Reading