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New York Attorney General Letitia James, joined by a bipartisan coalition of 45 additional state attorneys general, has secured a $45 million settlement with Block, Inc. to resolve allegations that the company failed to adequately protect users of its Cash App platform from widespread fraud while misleading consumers about the platform's security. The extensive multi-state investigation concluded that the financial technology company did not implement sufficient identity veri

The Monegasque financial regulator has imposed a substantial €6 million fine on the Monaco subsidiary of UBS following a lengthy investigation into serious anti-money laundering and compliance deficiencies spanning several years. The sanction, issued by the Autorité Monégasque de Sécurité Financière, stems from repeated failures involving the monitoring of high-risk transactions, inadequate controls surrounding politically exposed persons, and weak oversight of internationa

Austria’s Financial Market Authority has imposed a financial penalty of 60,000 euros on Sparkasse Oberösterreich Bank AG after identifying significant shortcomings in the institution’s anti-money laundering due diligence framework. The enforcement action followed a comprehensive regulatory review of the bank’s internal controls, compliance procedures, and risk management systems designed to prevent financial crime within the Austrian banking sector. The matter was resolved th

Canadian authorities have intensified their efforts to strengthen the country’s anti-money laundering framework by issuing more than $118,000 in administrative monetary penalties against three separate businesses found to be in violation of national financial security regulations. The enforcement actions, carried out by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), targeted VersaBank, RE/MAX Twin City Realty Inc, and Birks Group Inc after regulat

The Danish Financial Supervisory Authority, known as Finanstilsynet, has formally referred Nordea Finans Danmark A/S to the National Unit for Serious Crime for investigation over serious suspected violations of the country’s Money Laundering Act. The referral stems from an extensive inspection carried out in June 2023, which uncovered major shortcomings in the institution’s customer due diligence procedures. Regulators concluded that the company lacked sufficient understandin

More than €800,000 in cash deposits lie at the center of a significant legal settlement between ING Belgium and Didier Reynders, a senior former European Commissioner. Prosecutors in Brussels confirmed that the bank agreed to pay €1.6 million after a criminal investigation examined its potential complicity in handling Reynders’ financial activities. The fine represents the highest penalty currently permitted under Belgium’s Criminal Code for such violations and brings an end

The Department of Internal Affairs has wrapped up a major investigation into a Hamilton-based legal practice, resulting in a total penalty of 60,000 dollars for criminal breaches of regulatory obligations. Foster and Milroy acknowledged a series of compliance failures spanning from 2022 through 2025, including deficiencies in their internal control systems and risk management processes. Among the violations were the absence of proper risk assessments and the failure to mainta

MCAP LLC has been formally censured by the Financial Industry Regulatory Authority following the discovery of substantial shortcomings in its anti-money laundering compliance framework. The enforcement action stems from the firm’s failure to meet essential regulatory obligations, particularly those requiring routine evaluation of systems intended to detect and prevent financial crime. According to the findings, these deficiencies underscore the broader obligation placed on me

Scott-Moncrieff and Associates has lost its appeal against a £68,000 penalty imposed by the Solicitors Regulation Authority after a tribunal confirmed serious shortcomings in the firm’s financial crime controls. The Solicitors Disciplinary Tribunal ruled that the regulator’s original decision was sound, finding that the firm permitted millions of dollars to flow through its client accounts without adequate proof of legitimate legal services underpinning those transactions. Th

South Korea’s financial authorities have imposed a 5.2 billion won penalty alongside a three-month partial suspension of operations on the cryptocurrency exchange Coinone after uncovering widespread deficiencies in its anti-money laundering controls. The action follows an extensive investigation conducted by the Financial Intelligence Unit, which identified roughly 70,000 cases in which the platform failed to properly verify user identities in accordance with national legal r

The public prosecution department is preparing to initiate legal proceedings against Rabobank over its alleged failure to adhere to regulations concerning money laundering and the financing of terrorism. According to a brief statement released on Wednesday, the bank did not adequately examine “unusual transactions” conducted by its clients over an extended period. The investigation, which is approaching its final stages, focuses on activities spanning from October 2016 throug

A €450,000 penalty handed down by the AMF against Kerdiz Finance et Conseil and its senior managers has brought to light significant shortcomings in anti-money laundering controls, alongside broader regulatory breaches. The ruling targets an investment advisory firm that failed to comply with multiple obligations under French law, with authorities identifying serious weaknesses in due diligence, transaction monitoring, governance structures, and client protection measures. Th

Merricks Solicitors Limited has reached a regulatory settlement with the Solicitors Regulation Authority following an investigation that revealed substantial weaknesses in its defenses against financial crime. The agreement arises from the firm’s failure to maintain critical records required under national anti-money laundering regulations, a lapse that ultimately led to disciplinary action. By accepting the outcome and agreeing to pay the costs associated with the investigat

The Solicitors Regulation Authority has concluded a regulatory settlement with Ranson Houghton LLP following an extensive investigation into the firm’s anti-money laundering systems, bringing the matter to a close in March 2026. The outcome followed a desk-based review conducted by the regulator’s proactive supervision team, which uncovered persistent and long-running compliance deficiencies. Central to the findings was the firm’s failure to maintain a properly documented fir

A jury in New Mexico has ordered Meta to pay $375 million in civil penalties after concluding that the company misled users about the safety of its platforms and facilitated harm, including incidents of child sexual exploitation. The ruling, delivered on Tuesday, marks the first time a jury has held Meta legally responsible for actions carried out via its platforms. The case was initiated by the state attorney general’s office in December 2023, following a two-year investigat

Herold and Lantern Investments Incorporated has been formally censured and ordered to pay a $125,000 penalty by the Financial Industry Regulatory Authority after regulators uncovered major shortcomings in the firm’s anti-money laundering safeguards. The enforcement action followed findings that the brokerage failed to establish a compliance framework capable of reasonably detecting and reporting suspicious activity related to low-priced securities between November 2020 and Ma

Officials from the Office of Financial Sanctions Implementation (OFSI) have returned to the enforcement action against Bank of Scotland Plc, providing a detailed breakdown of the compliance lapses that resulted in a £160,000 fine. The case, linked to the UK’s Russia sanctions regime, underscores how even minor technical oversights in screening processes can allow sanctioned individuals to move capital undetected. By analyzing failures in automated systems and internal escalat

Austria’s chief financial watchdog, Financial Market Authority of Austria, has delivered a decisive administrative ruling against KuCoin EU Exchange GmbH, effectively blocking the cryptocurrency platform from onboarding new clients or rolling out new products after identifying serious deficiencies in its internal governance structure. The enforcement action followed the regulator’s determination that the company no longer retained the mandatory personnel required to oversee r

The European Central Bank has imposed administrative penalties totaling €12.18 million on J.P. Morgan SE after identifying long-running inaccuracies in the bank’s regulatory reporting. The sanctions stem from systemic errors in the calculation of risk-weighted assets, a core metric underpinning the resilience of the international banking system. Supervisors concluded that, for several years, the institution failed to present an accurate picture of its risk exposure due to def

The Isle of Man Gambling Supervision Commission has released a public enforcement statement detailing serious regulatory violations committed by Shelgeyr Limited, the company behind the Maverick Games brand. The action followed a comprehensive regulatory inspection that uncovered numerous breaches of the Gambling Anti Money Laundering and Countering the Financing of Terrorism Code 2019. Investigators determined that the operator did not sustain adequate safeguards against fin