Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Federal Reserve and US Banking Agencies Clarify Expectations for Bank Crypto-Asset Safekeeping
US banking regulators issued a joint statement on 14 July 2025 setting out risk-management considerations for banks that hold crypto-assets on customers' behalf.
CBUAE fines unnamed UAE bank AED 3 million for anti-money laundering failures
The Central Bank of the UAE fined a UAE-based bank AED 3 million on 10 July 2025 after examinations found it had failed to comply with the regulator's anti-money laundering instructions.
Six US State 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.
FCA Fines Monzo Bank £21.1 Million for Financial Crime Controls Failing to Keep Pace With Customer Growth
The FCA fined Monzo Bank £21,091,300 on 8 July 2025 for failing to maintain adequate financial crime controls as its customer base grew from 600,000 to over 5.8 million.
CBUAE Fines Three Exchange Houses a Combined AED 4.1 Million for AML and CFT Compliance Failures
The Central Bank of the UAE imposed combined fines of AED 4.1 million on three unnamed exchange houses on 7 July 2025 for AML and CFT compliance failures.
MAS Fines Nine Financial Institutions S$27.45 Million Over AML Failures Linked to 2023 Money Laundering Case
Singapore's MAS announced on 4 July 2025 S$27.45 million in penalties on nine firms including Citi, UOB, and Credit Suisse Singapore Branch.
CBUAE Imposes AED 5.9 Million Sanction on Foreign Bank Branch for AML/CFT Non-Compliance
The Central Bank of UAE has imposed an AED 5.9 million financial sanction on a foreign bank branch for failing to comply with its AML/CFT framework obligations.
Federal Reserve's 2025 Stress Tests Show All Large US Banks Remain Adequately Capitalised Under Severe Scenario
The Federal Reserve's 2025 stress tests showed all participating large US banks remain adequately capitalised, with aggregate projected losses of more than $550bn under the severely adverse scenario.
MAS Imposes S$960,000 in AML Penalties on Five Singapore Payment Institutions
Singapore's MAS fined five payment institutions S$960,000 in total for AML/CFT breaches in cross-border money transfers.
Mexico's CNBV Intervenes in CIBanco and Intercam Banco Following US FinCEN AML Orders
Mexico's CNBV placed CIBanco and Intercam Banco under temporary administrative intervention on 26 June 2025, after US FinCEN orders naming both banks as primary money laundering concerns.
France's ACPR Fines Banque Delubac €600,000 and Issues Formal Reprimand for AML/CFT Failures
France's ACPR Sanctions Commission issued Banque Delubac a formal reprimand and a €600,000 fine in a decision announced on 26 June 2025 for material failures in its AML/CFT controls and alert reporting.
Ethiopia's NBE Issues Directive SBB/94/2025 Opening Country to Foreign Bank Branches and Subsidiaries
The National Bank of Ethiopia introduced Directive SBB/94/2025, creating a licensing framework for foreign bank subsidiaries, branches and representative offices with a ETB 5 billion capital floor.