Compliance

Danske Bank was fined €1,820,000 by the Central Bank of Ireland on 13 September for three violations of the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010 (CJA).

A gaming company has been fined more than 386,000 euros for violating anti-money laundering rules.

Because Binance is under scrutiny by regulators due to claims that it operates illegal entities, all users must undergo rapid KYC verification.

The European Court of Auditors recently warned that current anti-money laundering measures are "insufficient" in the banking sector. Yet, looking at the international panorama of banking scandals of the last decade or so, it seems that it is convenient for banks to risk, incur penalties and pay.

Japan is implementing a new AML compliance program built on artificial intelligence algorithms in 2021.