Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Bank Negara Malaysia Fines Bank Islam RM3.445 Million for System Downtime and Sanctions Screening Failures
BNM imposed two penalties totalling RM3.445 million on Bank Islam on 30 July 2025 for prolonged service disruptions and failures in sanctions screening compliance.
Bank of Ghana Suspends Remittance Partnerships of Flutterwave, Celulant, and Halges for Compliance Breaches
Bank of Ghana has suspended three payment service providers from processing inward international remittances, citing breaches of updated inward remittance guidelines.
Bank Negara Malaysia Fines Bank Rakyat RM2.85 Million for Repeated System Availability Failures
Bank Negara Malaysia imposed an RM2.85 million penalty on Bank Rakyat on 29 July 2025 for multiple service disruptions that violated BNM's system availability requirements between 2023 and 2024.
Central Bank of Kuwait Imposes KD 20,000 Fine and Corrective Orders on Local Bank for AML/CTF Violations
The Central Bank of Kuwait imposed a KD 20,000 financial penalty, a written warning, and corrective measures on a local bank for repeated AML/CTF compliance failures.
HKMA Fines Indian Overseas Bank and Bank of Communications HKD 16.2 Million for AML Failures
Hong Kong's HKMA imposed combined penalties of HKD 16.2m on Indian Overseas Bank HK and two Bank of Communications entities for transaction monitoring system failures.
HKMA Reprimands and Fines 33 Financial Services HK$1.6 Million for Minimum Capital Breach
Hong Kong's HKMA reprimanded and fined 33 Financial Services Limited HK$1.6 million on 22 July 2025 for breaching minimum paid-up share capital rules under the stored value facility regime.
ECB Fines Belgium's Belfius Bank €6.94 Million for IRB Model Implementation Delays
The European Central Bank fined Belfius Bank €6.94 million for failing to implement updated internal credit risk models on schedule, a breach it classified as severe.
Mexico's CNBV Fines CIBanco, Intercam and Vector MXN 185.2 Million Following US Sanctions
Mexico's CNBV imposed combined fines of MXN 185.2m on Intercam, CIBanco and Vector Casa de Bolsa on 15 July 2025 for AML control failures linked to US FinCEN designations.
FCA Fines Barclays Bank UK £3.1 Million for Client Money Account Opening Control Failures
The FCA fined Barclays Bank UK plc £3,093,600 on 14 July 2025 for failures in account opening controls for client money accounts, citing weak onboarding and KYC processes.
FCA Fines Barclays Bank £39.3 Million for AML Failures in Stunt and Co Corporate Relationship
The FCA fined Barclays Bank £39.3 million for failing to manage AML risks in its relationship with Stunt & Co, allowing £46.8 million in criminal funds to pass through over six years.
CBUAE Fines Unnamed UAE Bank AED 3 Million and Bans Its Islamic Window from New Customer Onboarding for Six Months
The CBUAE imposed a AED 3 million fine and a six-month new-customer ban on a UAE bank's Islamic window for AML control failures and Sharia governance deficiencies.
NYDFS and Multistate Regulators Issue $4.2 Million Consent Order Against Wise US for AML and BSA Failures
US regulators imposed a $4.2 million consent order on Wise US Inc. on 9 July 2025 for AML programme failures, delayed SAR filings, and Bank Secrecy Act non-compliance.