- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2019-06-21T18:02:00
Bank of Scotland (BOS) has been slammed with a £45.5 million (U.S. $57.8 million) fine by the Financial Conduct Authority for failing to inform authorities of its suspicions that a BOS turnaround unit was committing fraud.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Whether you’re a multinational telecommunications company looking to certify your anti-corruption program post-settlement, or a biochemical company victimized by a “rogue” employee, seeing the light at the end of the enforcement tunnel isn’t always easy.
Bank of America avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency but was ordered to shore up previously disclosed deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions compliance programs.
JPMorgan Chase, Wells Fargo Bank, Bank of America, and the company behind online money transfer app Zelle were sued by the Consumer Financial Protection Bureau for allegedly failing to safeguard Zelle’s network and causing customers to lose $870 million, the CFPB alleged.
Disgraced financier Bernie Madoff, whose decades-long fraud swindled thousands of investors out of billions of dollars, died in federal prison Wednesday.
The U.K.’s financial services regulator is still failing to hold individuals accountable four years after introducing a program to improve oversight and enforcement, according to a new study.
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
