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Weekly Roundup: Canadian Regulator Challenges FIU’s Decision to Shield Bank, Royal Bank of Scotland Compliance Team Accused of Enabling Fraud, and More
printCanada's Office of the Superintendent of Financial Institutions and the Financial Transaction and Reports Analysis Centre were at odds over the latter agency's decision not to name the domestic bank it fined $1.2 million in April for failing to report nearly 1,200 transactions by a known criminal, according to emails obtained by the Toronto Star and National Observer. More Former clients and staff of Royal Bank of Scotland accused the lender's U.K.-based "group compliance unit" of manipulating and forging documents and telephone transcripts to cover up loan fraud from 2005 to 2012, the BBC said. More U.S. Rep. Bill Pascrell...
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