Forex news and analysis tagged “AML” on BestForex.io.
CySEC fined FXVC operator Finteractive 100,000 euro over conduct and anti-money laundering shortcomings, and the broker then renounced its Cyprus licence. A fine followed by a voluntary exit is still a warning.
CySEC fined FXBFI, the operator of 101investing, 150,000 euro in 2022 and a further 50,000 euro for AML failings in 2023, and later withdrew its licence. Two fines across different compliance failures before the licence goes.
CySEC reached a 150,000 euro settlement with forex broker CFI (Credit Financier Invest) in June 2022 over possible anti-money laundering law breaches found in a 2020 inspection. Size does not equal safety, and even big brands have had to settle over the machinery that guards client money.
The Cyprus regulator has suspended in full the licence of Triangleview Investments, the firm behind the retail trading brand 3anglefx, over money laundering failures and deficiencies in the way the company was run. It is not the first time this broker has been in the regulator's sights.
FinCEN, the SEC, and FINRA simultaneously resolved action against Canaccord Genuity LLC — totalling $120 million — for willful Bank Secrecy Act violations spanning six years. At least 160 suspicious activity reports were never filed.
FINRA fined Pictet Overseas $610,000 for AML failures that persisted for three and a half years after a regulator had already flagged the exact same deficiencies. A four-year warning. Never acted on.
One employee. 5.5 billion shares. No spoofing or layering surveillance at all. FINRA fined the dominant overnight trading platform $550,000 — but the real number to watch is not the fine.