If you cannot manage compliance, someone (somewhere) will force you to comply with AML laws and regulations:
- FSA requires action of the HSBC Group
- Complince Program failings, FSA/PN/081/2012, 02 Aug 2012
- FSA fines Habib Bank AG Zurich £525,000 and money laundering reporting officer £17,500 for anti-money laundering control failings, FSA/PN/055/2012, 15 May 2012.
- FSA fines Christchurch Investment Management Limited and compliance officer for client money breaches, FSA/PN/046/2012, 01 May 2012
- Coutts fined £8.75 million for anti-money laundering control failings, FSA/PN/032/2012, 26 Mar 2012.
- Former compliance officer at Greenlight Capital and JP Morgan Cazenove trader fined, FSA/PN/007/2012, 27 Jan 2012.
- Francois de Dietrich sentenced to 18 months imprisonment for failure to comply with Court Order and to cooperate with FSA investigation, FSA/PN/016/2011, 28 Jan 2011.
- Former senior manager sentenced to 27 months in prison for insider dealing and money laundering, FSA/PN/010/2011, 21 Jan 2011.
- Senior manager found guilty of insider dealing and money laundering, FSA/PN/168/2010, 26 Nov 2010.
- FSA fines Goldman Sachs International £17.5 million for weaknesses in controls resulting in failure to provide FSA with appropriate information, FSA/PN/141/2010, 09 Sep 2010.
- FSA fines Société Générale £1.575 million for failures in transaction reporting, FSA/PN/135/2010, 25 Aug 2010.
- FSA fines Alpari and its former money laundering reporting officer, Sudipto Chattopadhyay for anti-money laundering failings, FSA/PN/077/2010, 05 May 2010.
- FSA fines Commerzbank for failures in transaction reporting, FSA/PN/073/2010, 27 Apr 2010
- FSA fines Barclays £2.45m for failures in transaction reporting, FSA/PN/117/2009, 08 Sep 2009.
- Enforcement actions- civil and criminal penalties
- Reputational risk.
- Lose of Job
