Category: Transaction Monitoring

The CSSF has fined Rakuten Europe Bank €185,000 for failing to maintain an adequate transaction monitoring system and neglecting critical sanctions alerts.

The FCA levied a £44 million penalty against Nationwide for inadequate anti-money laundering systems and controls between 2016 and 2021, driven by failures in customer due diligence and transaction monitoring. This action, stemming from a serious case involving £27.3 million in fraudulent funds, highlights the severe consequences of failing to manage financial crime risk.

The CSSF has fined Rakuten Europe Bank €185,000 for failing to maintain an adequate transaction monitoring system and neglecting critical sanctions alerts.

The FCA levied a £44 million penalty against Nationwide for inadequate anti-money laundering systems and controls between 2016 and 2021, driven by failures in customer due diligence and transaction monitoring. This action, stemming from a serious case involving £27.3 million in fraudulent funds, highlights the severe consequences of failing to manage financial crime risk.

The CSSF has fined Rakuten Europe Bank €185,000 for failing to maintain an adequate transaction monitoring system and neglecting critical sanctions alerts.

The FCA levied a £44 million penalty against Nationwide for inadequate anti-money laundering systems and controls between 2016 and 2021, driven by failures in customer due diligence and transaction monitoring. This action, stemming from a serious case involving £27.3 million in fraudulent funds, highlights the severe consequences of failing to manage financial crime risk.