News

U.S. regulators fined California Pacific Bank $175,000 for failing to abide by the terms of a 2016 consent order for anti-money laundering lapses. More A Swiss court assessed a $55,000 fine against a former AML compliance executive at private bank Coutts & Co Ltd who was convicted of failing to report a suspicious $700 million transfer into an account controlled by Jho Low, the alleged mastermind of the theft and laundering of hundreds of millions of dollars from Malaysia's state fund 1MDB, Reuters reported. More China rejected a senior Malaysian official's claim that Low, the fugitive Malaysian financier, has been...