Alongside The New York State Department of Financial Services [DFS] DEUTSCHE BANK $425 MILLION FINE the DFSA have also fined; Intesa Sanpaolo S.p.A. = $235 million; Agricultural Bank of China = $215 million; and Mega Bank of Taiwan = $185 million. Today’s action further highlights the importance of DFS’s new risk-based anti-terrorism and anti-money laundering […]

Agricultural Bank of China Ltd will pay a $215 million penalty for violating New York state’s anti-money laundering law, the state’s financial regulator said on Friday. Bank officials engaged in “intentional wrongdoing,” including masking possibly suspicious transactions at its New York branch. Some transactions involved parties which are subject to U.S. sanctions, the New York State […]

Agricultural Bank of China Ltd. has been ordered by the Federal Reserve to overhaul its protections against money laundering to address “significant deficiencies,” the U.S. regulator said in a statement Thursday. The lender, one of China’s biggest banks, will have to come up with a written plan within 60 days to fix the shortcomings in managing risk in its […]