US regulators impose penalties to resolve money laundering probes
Oct 10 (Reuters) -Canada's TD Bank TD.TO agreed to pay a combined $3 billion in penalties on Thursday as part of a settlement with U.S. authorities over charges it failed to monitor and prevent money laundering.
The issue highlights a recurring challenge in the financial industry. Intermediaries like banks are required to prevent the flow of funds for illicit activities, but in some cases, they have failed to detect crimes because of inadequate compliance systems or huge transaction volumes.
Here is an overview of some of the largest penalties imposed by U.S. regulators to resolve money laundering probes in the last decade:
BINANCE:
Binance chief Changpeng Zhao stepped down in November 2023 and pled guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world's largest crypto exchange.
DANSKE BANK DANSKE.CO:
Denmark's Danske Bank DANSKE.CO agreed to pay more than $2 billion in January 2023to end probes into anti-money laundering failures as part of a guilty plea. The payout was divided between theU.S. government and Danish authorities.
SOCIETE GENERALE SOGN.PA:
France's Societe Generale committed to pay $1.4 billion in 2018 to settle investigations into its handling of dollar transactions in violation of U.S. sanctions against Cuba and other countries, and a separate dispute over anti-money laundering regulations.
GOLDMAN SACHS GS.N:
Goldman Sachsagreed to pay $2.9 billion over its role in Malaysia's 1MDB corruption scandal in 2020. The settlement with the U.S. Department of Justice and other U.S. and overseas regulators resolved a probe into the role its bankers played in helping steal cash from the Malaysian state fund, which Goldman helped raise.
STANDARD CHARTERED STAN.L:
Standard Chartered settled on paying $1.1 billion to U.S. and British authorities in 2019 for conducting illegal financial transactions that violated sanctions against Iran and other countries.
The bank also paid U.S. authorities $667 million in 2012 for illegally moving millions of dollars through the U.S. financial system on behalf of customers in Iran, Sudan, Libya and Myanmar.
DEUTSCHE BANK DBKGn.DE:
Deutsche Bank agreed to pay $630 million in fines to U.S. and UK regulators in 2017, for failing to prevent around $10 billion in suspicious trades being laundered out of Russia.
COMMERZBANK CBKG.DE:
Commerzbank agreed to pay U.S. authorities $1.45 billion in 2015 to resolve an investigation of its dealings with Iran and other sanctioned countries as well as a separate probe of its money laundering controls.
BNP PARIBAS BNPP.PA
France's banking giant BNP Paribas paid nearly $9 billion to settle a review from U.S. authorities in 2014. It pled guilty to violations of certain laws regarding economic sanctions against certain countries and related record-keeping.
HSBC HSBA.L:
HSBC consented to pay a $1.92 billion fine to settle a multi-year probe by U.S. prosecutors in 2012. It was accused of failing to enforce rules designed to prevent the laundering of criminal cash.
Source: Company statements, Reuters stories
Reporting by Manya Saini and Niket Nishant in Bengaluru, editing by Lananh Nguyen and Devika Syamnath
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
