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Friday, May 7, 2021 - JPMorgan memo warned $875 million Nigeria payment was graft risk
JPMorgan Chase & Co
Source - https://www.bloomberg.com/news/articles/2021-05-07/jpmorgan-memo-warned-of-bribery-risk-days-before-nigeria-payment?srnd=premium-europe
JPMorgan Chase & Co. was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.

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Thursday, May 6, 2021 - Top law firm's invoices exposed to ANZ which employees were cooperating with ASIC investigation
HWL Ebsworth
Source - https://www.abc.net.au/news/2021-05-07/lawyers-exposed-anz-asic-infomants/100121298
During a 2014 investigation into alleged market manipulation, a group of employees at ANZ believed they were secretly giving information to the corporate regulator.

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Thursday, May 6, 2021 - FCA fines London boutique investment bank for failing to spot financial crime relating to cum-ex trading
Sapien Capital
Source - https://www.cityam.com/fca-fines-london-boutique-investment-bank-for-failing-to-spot-financial-crime-relating-to-cum-ex-trading/
The City regulator has fined Sapien Capital £178,000 after it failed to carry out proper due diligence on a client likely participating in financial crime.

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Thursday, May 6, 2021 - Regulator tells Chime to stop using the word 'bank'
Chime
Source - https://www.finextra.com/newsarticle/38002/regulator-tells-chime-to-stop-using-the-word-bank?utm_medium=newsflash&utm_source=2021-5-6&member=22821
US digital banking giant Chime has agreed to stop using the word "bank" in its URL and elsewhere after falling foul of Californian regulators.

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Wednesday, May 5, 2021 - Swedbank fined in Stockholm over historic anti-money-laundering failures
Swedbank
Source - https://eng.lsm.lv/article/economy/banks/swedbank-fined-in-stockholm-over-historic-anti-money-laundering-failures.a403223/
The Disciplinary Committee at Nasdaq Stockholm on May 5 ordered Swedbank to pay a fine of twelve annual fees, equivalent of SEK 46.6 million (EUR 4.57 million) over historic failures in the field of anti-money-laundering measures linked to its Baltic operations.

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Wednesday, May 5, 2021 - ASIC commences civil proceedings against Westpac for insider trading
Westpac
Source - https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-093mr-asic-commences-civil-proceedings-against-westpac-for-insider-trading/
ASIC has today commenced proceedings in the Federal Court against Westpac Banking Corporation (Westpac) for insider trading, unconscionable conduct and breaches of its Australian financial services licensee obligations.

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Tuesday, May 4, 2021 - Major bank app suffers iPhone crashes
Commonwealth Bank of Australia (CBA)
Source - https://au.finance.yahoo.com/news/commbank-app-crashes-231439722.html
CommBank customers with iPhones have been left frustrated on Tuesday morning as the bank’s app suffers repeated issues.

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Monday, May 3, 2021 - Financial Supervisory Authority fines DNB 400 million kroner for violating Money Laundering Act
DNB
Source - https://norwaytoday.info/finance/financial-supervisory-authority-fines-dnb-400-million-kroner-for-violating-money-laundering-act/
DNB has been fined NOK 400 million for violating the Money Laundering Act. The fee from Finanstilsynet (Norway’s Financial Supervisory Authority) comes after a money laundering inspection at the bank in 2020.

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Friday, April 30, 2021 - German regulator orders Deutsche Bank to boost money-laundering controls
Deutsche Bank
Source - https://www.wsj.com/articles/deutsche-bank-ordered-by-german-regulator-to-improve-money-laundering-safeguards-11619829960
BaFin, Germany’s financial regulator, has ordered Deutsche Bank AG to take further steps to safeguard against money laundering, suggesting it still has found shortcomings at a bank repeatedly reprimanded for lacking proper controls.

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Friday, April 30, 2021 - Standard Bank apologises to customers for end-of-month glitch
Standard Bank Group (includes ICBC Standard Bank and Stanbic)
Source - https://www.timeslive.co.za/news/south-africa/2021-04-30-standard-bank-apologises-to-customers-for-end-of-month-glitch/
Standard Bank has apologised for a glitch that disrupted services to customers using its mobile banking app, internet banking, ATMs and one-time passwords to process payments and make purchases at month end.

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Thursday, April 29, 2021 - Fed issues cease-and-desist order against former Barclays FX head
Barclays Bank
Source - https://www.regreport.info/2021/04/29/fed-issues-cease-and-desist-order-against-former-barclays-fx-head/
The Fed said it has issued a cease-and-desist order against Peter Little, a former employee of Barclays Bank PLC, New York, N.Y., for engaging in manipulative and collusive foreign exchange trading practices.

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Thursday, April 29, 2021 - Credit Suisse risk committee head exits after Archegos hit
Credit Suisse
Source - https://www.bloomberg.com/news/articles/2021-04-29/credit-suisse-risk-committee-head-gottschling-weighs-departure?srnd=premium-europe
Credit Suisse Group AG risk committee head Andreas Gottschling is stepping down from his role after prominent investors indicated they’ll vote to oust him following the $5.5 billion hit from the meltdown of Archegos Capital Management.

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Thursday, April 29, 2021 - Settlement agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and MoneyGram Payment Systems, Inc.
MoneyGram International
Source - https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210429
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with MoneyGram Payment Systems, Inc., a global payments company based in Dallas, Texas that allows people to send money in more than 200 countries and territories.

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Wednesday, April 28, 2021 - EU watchdog imposes €28.5m fine on BofA, Crédit Agricole, Credit Suisse
Bank of America Merrill Lynch
Source - https://fxnewsgroup.com/forex-news/regulatory/eu-watchdog-imposes-e28-5m-fine-on-bofa-credit-agricole-credit-suisse/
The European Commission has imposed a fine of €28.49 million on Bank of America Merrill Lynch, Crédit Agricole, and Credit Suisse for breaching EU antitrust rules. Deutsche Bank was not fined as it revealed the existence of the cartel to the Commission.

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Wednesday, April 28, 2021 - Banking giant settles class action for A$30m
Westpac
Source - https://international-adviser.com/banking-giant-settles-class-action-for-a30m/
Australian banking giant Westpac has agreed to settle a class action lawsuit that has been ongoing since October 2017.

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Tuesday, April 27, 2021 - Standard Life Aberdeen faces mockery for Abrdn rebrand
Standard Life Aberdeen plc (merger of Aberdeen Asset Management and Standard Life plc)
Source - https://www.finextra.com/newsarticle/37939/standard-life-aberdeen-faces-mockery-for-abrdn-rebrand?utm_medium=dailynewsletter&utm_source=2021-4-28&member=22821
Asset manager Standard Life Aberdeen has, to widespread mockery, decided to change its name to Abrdn to reflect a "modern, agile, digitally-enabled brand".

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Tuesday, April 27, 2021 - Credit Suisse must face suit over failed play on fear index
Credit Suisse
Source - https://www.bloomberg.com/news/articles/2021-04-27/credit-suisse-must-face-revived-claims-over-failed-investment
Credit Suisse Group AG must face allegations that it engineered a complex fraud to sink an investment vehicle and profit on investors’ losses, after an appeals court revived the claims.

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Monday, April 26, 2021 - Aussie regulator says IOOF to take corrective steps for two financial advisers
IOOF Holdings Limited
Source - https://www.nasdaq.com/articles/aussie-regulator-says-ioof-to-take-corrective-steps-for-two-financial-advisers-2021-04-26
The Australian corporate regulator said on Monday wealth manager IOOF Holdings Ltd will address wrongdoings in the operations of two of its financial advice licensees that suggested potential loss to clients.

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Thursday, April 22, 2021 - Wirecard employees removed millions in cash using shopping bags
Wirecard AG
Source - https://www.ft.com/content/31a8ed93-f602-47f0-9120-4b4f152ec7bc
Wirecard employees hauled millions of euros of cash out of the group’s Munich headquarters in plastic bags over a period of years, according to former employees, suggesting that the payments company was looted even more brazenly than previously known.

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Thursday, April 22, 2021 - FINMA probes Credit Suisse over Archegos blowout
Credit Suisse
Source - https://www.swissinfo.ch/eng/latest-news/finma-probes-credit-suisse-over-archegos-blowout-_credit-suisse/46555984
Switzerland’s Financial Market Supervisory Authority (FINMA) on Thursday opened enforcement proceedings against the bank over the Archegos losses. The regulator is investigating whether there were deficiencies in risk management. FINMA has appointed an investigator to probe the matter at the bank. It is also exchanging information with counterparts in Britain and the United States.

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