by Argus | News, Others, Regulatory Compliance
Wells Fargo to Pay $575 Million to Settle Customer Harm Claims American multinational Wells Fargo & Co, have to pay $575m to settle state-level claims over sales practices which was due to a lack of compliance controls. This latest scandal adds to the series of...
by Argus | Compliance, News
Goldman Sachs CEO defends compliance culture within the organization Goldman Sachs Chief Executive David Solomon, defended the bank against criticism with regards to compliance and oversight related in their dealings with 1MDB. He said that, “We believe our culture...
by Argus | Anti Money Laundering, News, Regulatory Compliance
Charges announced on an accountant, a lawyer, and an asset manager on acting as enablers for Money Laundering Charges were announced against Panamanian Law firm Mossack Fonseca & Co. served as being intermediaries and enabled money laundering amidst the Panama...
by Argus | Anti Money Laundering, News, Regulatory Compliance
Fines for Anti Money laundering violations on surge in Latvia Latvian banking watchdog has fined € 2.2 Million to LPB bank and 1.2 million to Blue orange bank over anti money laundering and terrorism financing rule violations on 19th and 21st December 2018. Also, the...
by Argus | Compliance, News, Regulatory Compliance
Barclays fined over $15m over whistleblowing error New York has fined Barclays an amount of $15m over a whistleblowing error which took place in 2016. The attempts of Mr. Jes Staley to uncover the whistleblower first came to light in April 2017, dealt a new blow for...
by Argus | Anti Money Laundering, Financial Institutions, News
MAS Bans Tim Leissner for Life In the wake of money laundering charges in relation to the 1MDB case, Ex-Director of Goldman Sachs Mr. Tim Leissner, the MAS has issued a lifetime prohibition order, which will prevent him to conduct any regulated business under the...
