Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Bank of Ghana to Introduce Virtual-Asset Regulatory Framework and Present Crypto Bill to Parliament by December 2025
Ghana's central bank governor announced a virtual-asset licensing regime with AML obligations for service providers, with a bill due before Parliament by December 2025.
FINTRAC Penalises First Nations Bank of Canada C$601,000 for AML Compliance Failures
FINTRAC imposed a C$601,139.80 penalty on First Nations Bank of Canada for failures including missed STR filings, inadequate risk assessment, and weak ongoing monitoring.
FINTRAC Levies Record C$176.9 Million Penalty on Xeltox Enterprises for 2,593 AML Contraventions
FINTRAC imposed a record C$176.96 million penalty on Xeltox Enterprises, operator of Cryptomus and Certa Payments, for 2,593 contraventions of Canada's AML/ATF Act.
Canada's FINTRAC Hits KuCoin with C$19.55 Million AML Penalty
FINTRAC imposed a C$19.55 million administrative monetary penalty on KuCoin operator Peken Global Limited for three AML/CFT violations as a foreign money services business.
OCC Issues Formal Agreement with Florida's First National Bank of Pasco over BSA/AML Failures
The OCC entered a formal agreement with First National Bank of Pasco in Dade City, Florida, citing unsafe banking practices, BSA/AML failures, and SAR filing violations.
APRA Lifts Westpac's $500 Million Capital Add-On After Bank Completes Multi-Year CORE Risk Programme
Australia's APRA confirmed on 15 October 2025 that Westpac completed its CORE risk transformation programme, removing the remaining $500 million capital add-on imposed after the AUSTRAC scandal.
APRA Lifts Remaining A$500 Million Capital Penalty on Australia's Westpac
Australia's prudential regulator has removed the final tranche of a capital add-on imposed on Westpac in 2019, concluding a supervisory penalty tied to the bank's money-laundering scandal.
ANZ Admits Widespread Misconduct and Agrees to A$240 Million in Penalties Across Four ASIC Proceedings
ANZ admitted to unconscionable conduct and consumer misconduct affecting nearly 65,000 customers, agreeing with ASIC to seek A$240 million in Federal Court penalties.
Banca d'Italia Fines Qonto's French Entity Olinda SAS €390,000 for Systemic AML Failures in Italy
Banca d'Italia has imposed a €390,000 fine on Olinda SAS, Qonto's French operating entity, for systemic AML deficiencies identified during a 2024 on-site inspection of its Italian operations.
Taiwan FSC Fines Cathay United Bank NT$12 Million for Credit Card Internal Control Deficiencies
Taiwan's FSC has imposed a NT$12 million fine on Cathay United Bank for deficiencies in credit card customer information management, card reissuance, and payment systems.
Vietnam's State Bank Enacts Circular 27/2025 Requiring AML Reporting for Domestic Transfers Above VND 500 Million
Vietnam's SBV has enacted Circular 27/2025, mandating that banks file AML reports for domestic electronic fund transfers of VND 500 million or more, aligning with FATF guidance.
CBN Agent Banking Guidelines Impose ₦20 Million Minimum Fine for Operating Without Approval in Nigeria
Nigeria's CBN has published agent banking guidelines imposing a ₦20 million base fine for unauthorised operations, with a ₦500,000 daily penalty for persistent violations.