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Tag: AML

Paxos, the blockchain infrastructure firm behind BUSD, has agreed to pay a $48.5 million settlement to the New York Department of Financial Services (NYDFS) for anti-money laundering (AML) failures related to its partnership with Binance (Finextra). The Breakdown $26.5M in Penalties, $22M in Compliance SpendPaxos will...
The UK’s financial watchdog has slammed Barclays for systemic anti-money laundering failures—despite its Tier 1 status. The penalty exposes just how fragile "trusted" banking infrastructure can be behind the scenes. The fine: £42 million—and a public reckoning On...

Wise Fined $4.2 Million for AML Deficiencies — Part of a Larger Regulatory Pattern Targeting Fintechs

Wise, the global money transfer platform formerly known as TransferWise, has been fined $4.2 million by the Conference of State Bank Supervisors (CSBS) for anti-money laundering (AML) compliance failures....

Singapore Sends a Message: MAS Slaps Nine Financial Institutions with $21.5M in AML Fines

In one of the most comprehensive enforcement actions in its regulatory history, the Monetary Authority of Singapore (MAS) has imposed fines totaling SGD 27.45 million (approximately USD...

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