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
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
