Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Bank of Ghana to Introduce Virtual-Asset Regulatory Framework as Crypto Bill Heads to Parliament, Targeting Regulation by December 2025
Ghana's central bank governor announced a virtual-asset licensing regime with AML obligations for service providers, with the bill on its way to Parliament and regulation targeted before the end of 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.
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 of the capital add-ons it had imposed in 2019.
Bangladesh Bank Rejects Fine Waivers on Trio of Lenders
Bangladesh Bank's board has upheld fines totalling Tk15 lakh against Sonali Bank, Islami Bank, and Standard Bank for inaccurate classified loan reporting to the Credit Information Bureau.
CBN agent banking guidelines impose ₦20 million fine for unapproved ownership changes
Nigeria's central bank issued new agent banking guidelines setting a ₦20 million fine for unapproved ownership changes, a ₦10 million minimum for unlicensed super agents and daily PoS limits.
Banca d'Italia Fines Qonto's French Entity Olinda SAS €390,000 for AML Failures in Italy
Banca d'Italia has imposed a €390,000 fine on Olinda SAS, Qonto's French operating entity, for AML deficiencies identified during a 2024 on-site inspection of its Italian operations.
South Africa's FIC Issues 25 Sanctions Against DNFBPs in 2024/25 After 556 Inspections
South Africa's FIC imposed 25 administrative sanctions valued at R782,000 on DNFBPs in 2024/25, following 556 inspections across medium and high-risk institutions.
South Africa's FSCA Imposes R119.8 Million in Penalties on 51 Persons and Funds in 2024/25
South Africa's FSCA imposed R119.8 million in administrative penalties during 2024/25, down from R943 million the year before, with the largest fines linked to fund mismanagement.
Brazil's Banco Central Overhauls Pix Penalty Framework With New BCB Resolution 507
Brazil's central bank published Resolution BCB 507, replacing the Pix penalties manual with graduated sanctions including a new warning penalty, while companion Resolution BCB 506 set a 60-month bar on re-entry for excluded participants.
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.
Banco de España fines IRB Corporation BS Ltd €670,000 for using reserved banking names without a licence
The Spanish central bank fined IRB Corporation BS Ltd €670,000 and issued a public reprimand for presenting itself with names reserved for credit institutions without authorisation.