Europe

AML / KYC

NYDFS Fines Nordea Bank $35mn for AML Failures

By Editors | 29/08/2024

NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.

AML / KYC

Europol, New Zealand Can Share Personal Data to Combat Crime

By Ranamita Chakraborty | 29/08/2024

A new agreement has entered into force that allows Europol and New Zealand authorities to exchange personal data to combat crime.

AML / KYC

Swiss Court Sentences Two to Jail for Defrauding 1MDB

By Manesh Samtani | 29/08/2024

Two executives of an oil exploration company known as PetroSaudi were sentenced for defrauding 1MDB out of more than $1.8bn.

AML / KYC

French Prosecutors File Charges Against Telegram CEO

By Editors | 28/08/2024

A French court ruled that there were grounds to formally investigate Pavel Durov, releasing him on bail and ordering him to remain in France.

FCA Chair Accused of Breaching Whistleblower Confidentiality

By Editors | 26/08/2024

FCA chair Ashley Alder reportedly forwarded a whistleblower’s correspondence to other staff members, revealing their identity without their consent.

Enforcement

French Police Arrests Telegram Chief Executive Pavel Durov

By Editors | 26/08/2024

French authorities allege a lack of moderation on Telegram to prevent criminal use, and failure to cooperate with law enforcement in criminal cases.

Fintech / Regtech

Switzerland Introduces Instant Payments for Major Banks

By Ranamita Chakraborty | 26/08/2024

The SNB and SIX said instant payments will likely form the basis for further innovation in payment transactions moving forward.

ESG / Sustainability

High-emitting Companies Charged Higher Rates by Banks

By ESG Investor | 22/08/2024

Heavy carbon emitters are increasingly subject to higher interest rates from banks, according to research from the ECB and DNB.

Enforcement

UK FCA Fines PwC for Failing to Report Fraud Suspicions

By Mark Johnston | 20/08/2024

This is the FCA’s first-ever fine against an auditor, imposed because PwC failed to report fraud suspicions to the regulator.