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Wednesday, June 29, 2022 - Ernst & Young to pay $100 million penalty for employees cheating on CPA Ethics Exams and misleading investigation
EY (previously Ernst & Young)
Source - https://edition.cnn.com/2022/06/28/business/ernst-and-young-sec-cheating-fine/index.html#:~:text=New%20York%20(CNN%20Business)%20Ernst,did%20nothing%20to%20stop%20it.
The Securities and Exchange Commission today charged Ernst & Young LLP (EY) for cheating by its audit professionals on exams required to obtain and maintain Certified Public Accountant (CPA) licenses, and for withholding evidence of this misconduct from the SEC’s Enforcement Division during the Division’s investigation of the matter. EY admits the facts underlying the SEC’s charges and agrees to pay a $100 million penalty and undertake extensive remedial measures to fix the firm’s ethical issues.

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Tuesday, June 28, 2022 - Cetera Financial Group hacked via printing vendor
Cetera Financial Group
Source - https://www.investmentnews.com/cetera-financial-group-hacked-via-outside-printing-vendor-223386?NLID=2022_Daily-Pulse-1-column&NL_issueDate=20220628&utm_source=2022_Daily-Pulse-1-column-20220628&utm_medium=email&utm_campaign=investmentnews&utm_visit=70748
Cetera Financial Group was hacked last fall through an outside printing vendor, putting the Social Security numbers of 2,188 of its clients at risk, according to a notice this month from the Maine Attorney General’s office.

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Tuesday, June 28, 2022 - SocGen blames Clifford Chance in $483 million gold suit
Société Générale
Source - https://www.bloomberg.com/news/articles/2022-06-28/socgen-blames-clifford-chance-in-483-million-gold-suit?srnd=premium-europe
Societe Generale SA accused leading global law firm Clifford Chance of error strewn and careless advice in a long-running spat over a payment for $483 million in gold.

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Tuesday, June 28, 2022 - SMBC Nikko's 'unfair' trading revealed by lawyers' probe
SMBC Nikko Securities
Source - https://asia.nikkei.com/Business/Markets/SMBC-Nikko-s-unfair-trading-revealed-by-lawyers-probe
Proprietary traders at SMBC Nikko Securities engaged in "inappropriate and unfair" trading activities from 2019 to 2021, according to three lawyers hired by the Japanese broker who conducted an internal probe and released their findings on Friday.

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Tuesday, June 28, 2022 - Finra increases scrutiny of brokers’ WhatsApp use
InSight Securities Inc.
Source - https://www.advisorhub.com/finra-increases-scrutiny-of-brokers-whatsapp-use/
A crackdown on clandestine messaging by traders and dealmakers on Wall Street appears to coincide with a string of WhatsApp enforcement actions in the brokerage industry from the Financial Industry Regulatory Authority.

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Monday, June 27, 2022 - Citigroup private banker gets $1.4 million in harassment claim
Citigroup
Source - https://www.investmentnews.com/citigroup-private-banker-gets-1-4-million-in-harassment-claim-223334?NLID=2022_Daily-Pulse-1-column&NL_issueDate=20220627&utm_source=2022_Daily-Pulse-1-column-20220627&utm_medium=email&utm_campaign=investmentnews&utm_visit=7
A former Citigroup private banker on Friday won a long-running complaint against the firm in which she charged the bank violated a variety of gender discrimination and harassment rules. A Finra arbitration panel gave the private banker, Erin Daly, an award of $1.4 million, according to the Financial Industry Regulatory Authority Inc. filing.

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Monday, June 27, 2022 - Woori Bank faces probe again over wire transfers
Woori Bank / 우리은행
Source - https://www.koreaherald.com/view.php?ud=20220627000746
Woori Bank, one of the five largest lenders in South Korea, is under investigation over suspicious money transfers totaling 800 billion won ($623 million) as one of the bank employees is standing a separate trial on charges that he stole 61 billion won in the largest bank theft local lenders have seen.

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Monday, June 27, 2022 - Credit Suisse fined for facilitating cocaine cash laundering
Credit Suisse
Source - https://www.ny1.com/nyc/all-boroughs/ap-top-news/2022/06/27/credit-suisse-fined-for-facilitating-cocaine-cash-laundering#:~:text=ZURICH%20(AP)%20%E2%80%94%20A%20Swiss,and%2Da%2Dhalf%20ago.
A Swiss court on Monday said it has fined Credit Suisse more than $2 million for failing to prevent money laundering linked to a Bulgarian criminal organization a decade-and-a-half ago.

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Thursday, June 23, 2022 - AIB slapped with €83m fine over tracker mortgage failings
Allied Irish Banks (AIB)
Source - https://businessplus.ie/news/aib-slapped-with-e83m-fine-over-tracker-mortgage-failings/
AIB has been fined €83m by the Central Bank for regulatory breaches affecting tracker mortgage customers, and EBS has been slapped with a €13m penalty for the same reason.

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Thursday, June 23, 2022 - Brazil's antitrust body fines Citibank, Société Générale for currency manipulation
Citigroup
Source - https://www.reuters.com/markets/currencies/brazils-antitrust-body-fines-citibank-socit-gnrale-currency-manipulation-2022-06-23/?rpc=401&
Brazil's antitrust watchdog said on Wednesday it will fine the Brazilian units of Citibank and Société Générale for exchange rate manipulation.

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Thursday, June 23, 2022 - UK watchdog fines Ghanaian bank for poor anti-money laundering regulations
Ghana International Bank (GHIB)
Source - https://gazettengr.com/uk-watchdog-fines-ghanaian-bank-for-poor-anti-money-laundering-regulations/
Britain’s Financial Conduct Authority (FCA) has fined Ghana International Bank (GHIB) £5.8 million for failings in its anti-money laundering controls.

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Wednesday, June 22, 2022 - FCA fines insurance broker JLT Specialty Limited £7.8m for financial crime control failings
JLT Speciality Limited (Jardine Lloyd Thompson Group plc)
Source - https://www.fca.org.uk/news/press-releases/jlt-specialty-limited-fined-7.8m-pounds-financial-crime-control-failings
The Financial Conduct Authority (FCA) has fined JLT Specialty Limited (JLTSL) £7,881,700 for financial crime control failings, which in one instance allowed bribery of over $3m to take place.

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Tuesday, June 21, 2022 - PSR instigates two market reviews into Visa and Mastercard fees
Visa Inc.
Source - https://www.finextra.com/newsarticle/40492/psr-instigates-two-market-reviews-into-visa-and-mastercard-fees?utm_medium=newsflash&utm_source=2022-6-21&member=22821
The UK's Payment Systems Regulator is to undertake two market reviews into Visa and Mastercard scheme fees and cross-border interchange charges.

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Tuesday, June 21, 2022 - Flagstar Bank hackers steal data on 1.5 million customers
Flagstar Bank
Source - https://www.finextra.com/newsarticle/40495/flagstar-bank-hackers-steal-data-on-15-million-customers/execution
US-based Flagstar Bank has suffered a data breach that has hit over 1.5 million customers.

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Friday, June 17, 2022 - Ex-Amazon worker convicted in massive Capital One hack
Capital One
Source - https://www.seattletimes.com/business/ex-amazon-worker-convicted-in-massive-capital-one-hack/
A former Amazon engineer was convicted Friday on federal charges stemming from a 2019 hack that compromised the accounts of 100 million credit card users.

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Friday, June 17, 2022 - Deutsche Bank staff forced to install app that tracks messages
Deutsche Bank
Source - https://www.telegraph.co.uk/business/2022/06/17/bankers-made-install-app-tracks-messages/
Bankers at Germany’s largest lender are being made to install an app that tracks communications on their phones as regulators clamp down on messaging between bankers and clients on platforms like WhatsApp.

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Thursday, June 16, 2022 - Credit Suisse to pay broker $3.4m for mishandling discharge
Credit Suisse
Source - https://www.fa-mag.com/news/credit-suisse-to-pay-broker--3-4m-for-mishandling-discharge-68355.html
Credit Suisse will pay a former broker about $3.4 million for the way the firm handled his discharge back in Oct. 2015 when it closed its advisory business, a Finra filing said.

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Thursday, June 16, 2022 - Credit Suisse prosecutor finds $60 million in money laundering
Credit Suisse
Source - https://www.bnnbloomberg.ca/credit-suisse-prosecutor-finds-60-million-in-money-laundering-1.1779652
A prosecutor has identified more than $60 million that he believes was laundered through Credit Suisse Group AG, in the precursor to what would be an historic Swiss criminal indictment against the bank.

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Thursday, June 16, 2022 - SFC reprimands and fines China Everbright Securities (HK) Limited $3.8 million for breaches of anti-money laundering regulatory requirements
Everbright Securities Co. Ltd. / 光大证券股份有限公司
Source - https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=22PR37
The Securities and Futures Commission (SFC) has reprimanded and fined China Everbright Securities (HK) Limited (CESL) $3.8 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) regulatory requirements.

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Wednesday, June 15, 2022 - Allianz and AWP plead guilty to charges for making false statements about travel insurance
Allianz
Source - https://asic.gov.au/about-asic/news-centre/find-a-media-release/2022-releases/22-144mr-allianz-and-awp-plead-guilty-to-charges-for-making-false-statements-about-travel-insurance/
Allianz Australia Insurance Limited (Allianz) has pleaded guilty to six criminal charges, and AWP Australia Pty Ltd (AWP) to one criminal charge, of making false or misleading statements.

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