The Reserve Bank of India published additional guidelines on compliance functions in banks and the role of the Chief Compliance Officer, including the development of an effective compliance culture and risk management program.
The governments of the United States and India issued a joint statement as part of the third U.S.-India Counter Terrorism Joint Working Group and Designations Dialogue, held Sept. 9-10, 2020.
Mexican FIU freezes hundreds of bank accounts, FinCEN details red flags of unemployment insurance fraud, and more, in the midweek roundup.
U.K. law firm fined for customer due-diligence breaches, Germany targets suspicious property transactions, and more, in the midweek roundup.
The Reserve Bank of India has imposed a monetary penalty of one lakh fifty thousand rupees against the Chhattisgarh, India- based bank for its failure to comply with guidelines on know-your-customer requirements pursuant to the Banking Regulation Act, 1949.
The Reserve Bank of India issued a monetary penalty of ₹2 lakh on the Mumbai, India-based entity for failing to comply with directions issued by the regulator on monitoring fraud.