Metro Bank fined £5.4 million for failing in its regulatory reporting governance and controls
Source: Bank of England
The Prudential Regulation Authority (PRA) has imposed a financial penalty on Metro Bank plc (Metro Bank) of £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance, controls and investment with respect to its Common Reporting (COREP) returns sent to the PRA between 13 May 2016 to 23 January 2019.
JPMorgan Chase fined $200 million for conducting business on WhatsApp
JPMorgan Chase has received a $125 million penalty from the Securities and Exchange Commission (SEC), for allowing Wall Street employees to use apps including WhatsApp to get around US federal record-keeping laws.
HSBC fined £63.9m for AML failings
HSBC is the second bank this week to be handed down a fine by the FCA for failings in its anti-money-laundering (AML) processes, being hit with a £63,946,800 penalty.
AML penalties hit $2.2 billion in 2020 as regulators crack down on financial crimes
Fines for anti-money laundering (AML) failings by regulated institutions were five times higher in 2020 than 2019, totalling $2.2 billion.
Bank of Ireland fined €24.5 million over IT resiliency issues
Ireland's central bank has fined Bank of ireland €24.5 million over IT deficieincies that the lender took over a decade to fix.
US regulators promise crypto oversight clarity
American banking regulators have put together a roadmap that will see them offer clarity over the next year on a host of areas relating to crypto assets.
US banks ordered to report cyber incidents within 36 hours
US regulators have approved a new rule that requires banks to report any "significant" computer security incident within 36 hours of discovering it.
FATF publishes guidance for regulation of cryptocurrency industry
Source: FATF
The virtual asset sector is fast-moving and technologically dynamic, which means continued monitoring and engagement between the public and private sectors is necessary.
