TOP STORY

Jun

14

German Supervisor Tightens Rules on Correspondent Payments and AML Outsourcing

Ahead of a global review of their country’s defenses against financial crime, German authorities are scrambling to eliminate gaps in anti-money laundering supervision revealed by the Wirecard scandal and Deutsche Bank’s struggles with compliance. (Getty Images)

lock

Legs & Regs

lock

Enforcement Actions

The Reserve Bank of India issued a monetary penalty of 12 lakh rupees against the Mumbai, India-based financial institution for violating know-your-customer rules.
The Reserve Bank of India issued a monetary penalty of 10 lakh rupees against the Maharashtra, India-based bank for not adhering to the know-your-customer requirements.