Binance to pay $2.25m fine to India’s FIU over AML deficiencies
The exchange allegedly violated the country’s Prevention of Money Laundering Act (PMLA).
fine
FINRA fines SoFi $1.1m after consumer identification flaws led to multi-million dollar heist
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
JP Morgan Chase to pay additional $100m penalty to US regulator over trade surveillance data gaps
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Video: pick of the week – UK regulators not happy with some fintechs and AmEx
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
Top fintech stories this week – 3 February 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Western Union to pay $586m fine for money transfer fraud
Western Union has admitted turning a blind eye as criminals used its money transfer services to launder money and commit fraud. It has agreed to pay a $586 million fine to the US authorities.
Barclays fined again for “widespread” failure to keep records
Barclays has been fined $3.75 million by the US Financial Industry Regulatory Authority for its failure to keep electronic records, including emails and instant messages, which are required by law. The failure is the latest in a string of recent fines for the bank.
