Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe and North America: 756 cases from 32 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.
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Where?
by regionAll jurisdictions
What for?
by topicWho?
by company- The Toronto-Dominion Bank €113m 17 % · 1 case
- UBS Financial Services Inc. €108.4m 16 % · 1 case
- Xeltox Enterprises Ltd. (Cryptomus) €108.1m 16 % · 1 case
- Canaccord Genuity LLC €69.2m 10 % · 1 case
- Nationwide Building Society €50.4m 8 % · 1 case
- J.P. Morgan SE €45m 7 % · 1 case
- Block, Inc. €36.1m 5 % · 1 case
- Monzo Bank Limited €24.5m 4 % · 1 case
- Paxos Trust Company, LLC €22.8m 3 % · 1 case
- Coinbase Europe Limited €21.5m 3 % · 1 case
- 36 more€62.4m
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q3 2023 | 1 | €7.48m |
| Q4 2023 | 3 | €1.76m |
| Q1 2024 | 2 | €5.69m |
| Q2 2024 | 2 | €9.2m |
| Q3 2024 | 0 | — |
| Q4 2024 | 1 | €113m |
| Q1 2025 | 3 | €1.41m |
| Q2 2025 | 6 | €40.1m |
| Q3 2025 | 7 | €61.6m |
| Q4 2025 | 6 | €225.2m |
| Q1 2026 | 9 | €75m |
| Q2 2026 | 3 | €12.9m |
| Q3 2026 | 5 | €108.8m |
48 cases
16 Sep 2026 Wallester ASFinancial supervisor orders Wallester to remedy governance and AML deficiencies Order
Following an on-site inspection, the Finantsinspektsioon (Estonian Financial Supervision Authority) issued an order requiring the payment institution Wallester to remedy, by 31 December, deficiencies in governance and control functions (separation of the lines of defence, internal rules), in safeguarding customer funds and in the staffing of its anti-money laundering and counter-terrorist financing function. Date = publication of the press release.
Fast-growing payment service providers must let their compliance, AML and internal audit functions grow with them in terms of staffing and organisation.
- Authority / court
- Finantsinspektsioon (Estnische Finanzaufsicht)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Aufsichtsrechtliche Anordnung (ettekirjutus) der Finantsinspektsioon
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 16 Sep 2026
- Finantsinspektsioon tegi Wallester AS-ile ettekirjutuse (16.09.2026) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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31 Aug 2026 EM@NEY P.L.C.Malta: EM@NEY pays 97,622 EUR under settlement for late bank account register reports €97,622
The financial institution did not deliver on time the data due every seven days to the Centralised Bank Account Register (CBAR). The Financial Intelligence Analysis Unit (FIAU) set a fine of 162,704 EUR, which was reduced by 40% to 97,622 EUR under a settlement pursuant to its 2026 settlement policy.
Recurring mandatory reports need deadline monitoring with escalation – otherwise individual omissions add up to six-figure sums.
- Authority / court
- Financial Intelligence Analysis Unit (FIAU)
- Area of law
- Money laundering and terrorist financing
- Legal basis
- Reg. 4(2), 8, 9 CBAR Regulations (S.L. 373.03)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Settlement with 40% reduction
- Published
- 4 Sep 2026
- Settlement Agreement Publication Notice – EM@NEY P.L.C. Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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27 Aug 2026 MiFinity Malta LimitedMalta: MiFinity pays 160,099 EUR following anti-money laundering examination €160,099
At the payment institution, the customer risk assessment had only been introduced after business had started, some customers remained unassessed, and customer profiles were based on transaction thresholds rather than on risk. The Financial Intelligence Analysis Unit (FIAU) set a fine of 266,833 EUR and a follow-up directive; under a settlement, the fine was reduced by 40% to 160,099 EUR.
A customer risk assessment belongs before business starts, not in a later remediation project.
Risk-based customer profiles and source of funds
- Authority / court
- Financial Intelligence Analysis Unit (FIAU)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Reg. 2(1), 5(5)(a)(ii), 7(1)(c), 7(2)(a), 21, 22 PMLFTR
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Settlement with 40% reduction; remediation demonstrated
- Published
- 2 Sep 2026
- Settlement Agreement Publication Notice – MiFinity Malta Limited Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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3 Aug 2026 UBS Financial Services Inc.FinCEN: 125 million USD against UBS Financial Services as a repeat offender €108.4m
The US Financial Crimes Enforcement Network (FinCEN) imposed 125 million USD on the broker-dealer – the highest BSA penalty against a broker-dealer to date. UBSFS admitted wilful infringements: the AML programme was inadequate, more than 50,000 foreign currency transfers totalling more than 10 billion USD were not adequately monitored and suspicious activity reports were not filed; it is already the second enforcement action after 2018.
Monitoring gaps left unremedied after an earlier enforcement action lead, the second time round, to a multiple of the original penalty.
- Authority / court
- Financial Crimes Enforcement Network (FinCEN)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Bank Secrecy Act (BSA)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Culpability
- intentional
- Repeat case
- yes
- Mitigating circumstances
- Up to 15 million USD (remaining amount due by 31 May 2028) may be waived to the extent that UBSFS bears the costs of the independent review of its AML programme and implements its recommendations
- Published
- 3 Aug 2026
Original amount 125,000,000 USD, converted at the ECB reference rate of 3 Aug 2026.
- FinCEN Assesses Historic $125 Million Penalty Against UBS Financial Services Inc. for Recidivist BSA Violations Press release of an authority
- FinCEN Consent Order Imposing Civil Money Penalty – UBS Financial Services Inc. (Number 2026-02) Decision of an authority
- FinCEN Enforcement Actions Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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10 Jul 2026 Volksbank Düsseldorf Neuss eGBaFin: 210,000 EUR against Volksbank Düsseldorf Neuss over monitoring and reporting gaps €210,000
Germany's Federal Financial Supervisory Authority (BaFin) imposed fines totalling 210,000 EUR on the cooperative bank: business relationships were not monitored on an ongoing basis or with enhanced scrutiny, additional information was not obtained and suspicious activity reports were not filed or were filed late. The function of the money laundering reporting officer had been outsourced to an external service provider with several clients.
Institutions that outsource the anti-money laundering function remain responsible themselves for ongoing monitoring and timely suspicious activity reports.
Ongoing monitoring of business relationships and suspicious activity reporting
- Authority / court
- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- § 56 Abs. 1 S. 1 Nr. 20, 36, 38 und 69 GwG; Bekanntmachung nach § 57 GwG
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 17 Sep 2026
- Volksbank Düsseldorf Neuss eG: Bafin setzt Bußgelder fest Press release of an authority
- Bekanntmachung zur Volksbank Düsseldorf Neuss eG (§ 57 GwG) Official register or notice
Checked against the official source on 25 Sep 2026 · Direct link
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23 Jun 2026 Banca Popolare Commerciale SpaBanca d'Italia: 40,000 EUR against Banca Popolare Commerciale over AML deficiencies €40,000
Following an on-site inspection from February to April 2025, the Bank of Italy (Banca d'Italia) found deficiencies in customer due diligence, active cooperation (suspicious transaction reporting) and anti-money laundering controls, and imposed an administrative fine of 40,000 EUR. The duration of the deficiencies and the corrective measures initiated were taken into account.
Gaps in customer due diligence and suspicious transaction reporting are consistently sanctioned after on-site inspections, even with smaller amounts – corrective measures reduce the sanction but do not replace it.
Customer due diligence and suspicious transaction reports
- Authority / court
- Banca d'Italia
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Art. 62 d.lgs. 231/2007; Verstöße gegen Art. 7, 16–19, 24, 25, 35, 36 d.lgs. 231/2007
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Corrective measures initiated
- Banca Popolare Commerciale Spa – Provvedimento n. 190 del 23 giugno 2026 (AML) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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19 Jun 2026 CACEIS Bank (UK Branch)FCA: public censure for CACEIS UK over deficient checks on a custody client Reprimand or warning
The UK Financial Conduct Authority (FCA) issued a public censure because the London branch opened and operated accounts for the wealth manager WealthTek, although its own register searches showed that it lacked permissions to hold client assets, and overlooked a restriction noted in the register; 16 monitoring alerts were not worked through over two years, and more than £314 million flowed through the accounts. In view of cooperation and a voluntary payment of £31.7 million to WealthTek clients, the FCA refrained from imposing a fine (otherwise £23.1 million after discount).
Anyone who notices a discrepancy in the register must clarify and document it before accounts are activated.
Register checks and follow-up on identified KYC gaps
- Authority / court
- Financial Conduct Authority (FCA)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Section 205 FSMA (Public Censure) wegen Verstoßes gegen FCA Principle 2; Maßstab u. a. SYSC 6.1.1R, 6.3.1R, 6.3.3R und Regulations 18, 27, 28 MLR 2017
- Action
- Reprimand or warning
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Cooperation, acknowledgement of the deficiencies and a voluntary payment of £31,714,068 to those harmed
- Published
- 25 Jun 2026
- Final Notice 2026: CACEIS Bank (UK Branch) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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17 Jun 2026 Ikano Bank ABIkano Bank: 140 million SEK over deficiencies in money laundering risk assessment and customer due diligence €12.9m
For the period April 2022 to May 2023, the Swedish financial supervisory authority Finansinspektionen (FI) found that the bank’s general risk assessment did not realistically assess the terrorist financing risks of its corporate products and that no enhanced due diligence measures were taken for high-risk corporate customers. FI issued a remark and imposed 140 million SEK; the bank has brought an action before the administrative court.
The money laundering risk assessment must reflect the actual customers and products – a generic assessment leaves the entire customer due diligence open to challenge.
Enhanced due diligence for high-risk customers
- Authority / court
- Finansinspektionen (FI)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Penningtvättslagen (2017:630)
- Action
- Fine
- Status of proceedings
- under appeal
- Sector
- Financial services and insurance
- Published
- 17 Jun 2026
Original amount 140,000,000 SEK, converted at the ECB reference rate of 17 Jun 2026.
- FI ger Ikano Bank en anmärkning och en sanktionsavgift (17.06.2026) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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27 Mar 2026 13010431 Canada Inc. (Necosmart)FINTRAC: 693,742 CAD against crypto service provider Necosmart over missing suspicious transaction reports €434,295
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed 693,742.50 CAD on the Edmonton money services business, which also exchanges virtual currencies, for five violations: repeated failure to file suspicious transaction reports, lack of written compliance policies, insufficient enhanced measures for high-risk transactions, lack of a risk assessment and incomplete records of occupation and transactions for crypto exchanges.
Small crypto exchange offices need the same basic framework as banks: risk analysis, policies, enhanced scrutiny and reporting.
Recognising and reporting grounds for suspicion in crypto exchange
- Authority / court
- Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
- Area of law
- Money laundering and terrorist financing · Suspicious activity reports
- Legal basis
- Proceeds of Crime (Money Laundering) and Terrorist Financing Act, Part 1, und zugehörige Verordnungen
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 14 May 2026
Original amount 693,742.5 CAD, converted at the ECB reference rate of 27 Mar 2026.
- FINTRAC imposes an administrative monetary penalty on 13010431 Canada Inc. Press release of an authority
- Public notice of administrative monetary penalties Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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6 Mar 2026 Canaccord Genuity LLCFinCEN: 80 million USD against Canaccord Genuity over AML and correspondent banking deficiencies €69.2m
The US Financial Crimes Enforcement Network (FinCEN) imposed 80 million USD on the broker-dealer, which admitted wilful BSA infringements: no effective AML programme, no due diligence on correspondent accounts of foreign financial institutions and failure to file suspicious activity reports in connection with securities fraud. Remedial measures that had been promised were not implemented for years.
Implement remedial measures promised in writing to the supervisory authority genuinely and swiftly – years of delay aggravate the later sanction.
- Authority / court
- Financial Crimes Enforcement Network (FinCEN)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Bank Secrecy Act (BSA)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Culpability
- intentional
- Published
- 6 Mar 2026
Original amount 80,000,000 USD, converted at the ECB reference rate of 6 Mar 2026.
Checked against the official source on 25 Sep 2026 · Direct link
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3 Mar 2026 BNF Bank p.l.c.Malta: 69,000 EUR against BNF Bank over late reporting to the bank account register €69,000
Following the introduction of a new core banking system in April 2025, the bank was unable, until September 2025, to submit the mandatory weekly data deliveries to the Centralised Bank Account Register (CBAR) on time. The Financial Intelligence Analysis Unit (FIAU) imposed 69,000 EUR.
Test regulatory reporting chains in advance of IT migrations – migration problems do not excuse missed deadlines.
- Authority / court
- Financial Intelligence Analysis Unit (FIAU)
- Area of law
- Money laundering and terrorist financing
- Legal basis
- Reg. 4(2), 8 Centralised Bank Account Register Regulations (S.L. 373.03)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- The bank continuously attempted to upload reports
- Published
- 6 Mar 2026
- Administrative Measure Publication Notice – BNF Bank p.l.c. Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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27 Feb 2026 MBaer Merchant Bank AGFINMA withdraws MBaer Merchant Bank's licence over serious anti-money laundering deficiencies Order
Following enforcement proceedings, the Swiss Financial Market Supervisory Authority (FINMA) found serious, systematic deficiencies in anti-money laundering due diligence, organisation and risk management; the bank enabled clients to circumvent official asset freezes and executed transactions for sanctioned persons. FINMA had withdrawn the bank's licence and ordered its liquidation; with the withdrawal of the appeal before the Federal Administrative Court, the orders took effect on 27 February 2026. The day before, FinCEN had proposed designating the bank as an institution of primary money laundering concern.
Systematic anti-money laundering and sanctions deficiencies can cost a bank its licence – not just money.
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Schweizer Geldwäschereirecht und Bankenaufsichtsrecht (laut FINMA)
- Action
- Order
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Employees
- 50 to 249
- Published
- 27 Feb 2026
- FINMA-Verfahren: MBaer Merchant Bank AG in Liquidation Press release of an authority
- Massnahmen bei MBaer Merchant Bank AG Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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20 Feb 2026 BVwG reduces FMA penalty against private bank over unclarified beneficial owners €356,000
From 2017 to 2020, an Austrian bank specialising in private and investment banking had not adequately examined the ownership and control structure of an offshore holding client despite the lack of evidence on shareholders, trust arrangements and beneficial owners. The Austrian Federal Administrative Court (Bundesverwaltungsgericht, BVwG) confirmed the infringement but reduced the additional penalty imposed by the Financial Market Authority (Finanzmarktaufsicht, FMA) in its penalty decision of 17 December 2024 from 476,000 to 356,000 EUR (total penalty 436,000 EUR less FMA penalties already paid), because the FMA had taken the seriousness of the offence into account twice and the bank had cooperated, admitted its errors and terminated the client relationship; an appeal on points of law has been permitted.
For offshore holdings with trustees, prove the beneficial owner with supporting documents – a self-declaration is not enough.
Identifying beneficial owners in holding and trust structures
- Authority / court
- Bundesverwaltungsgericht (BVwG); Straferkenntnis der Finanzmarktaufsicht (FMA) vom 17.12.2024
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- § 9 Abs. 1 erster Satz i. V. m. § 6 Abs. 1 Z 2 FM-GwG; § 35 Abs. 1 und 3 i. V. m. § 34 Abs. 1 Z 2 und Abs. 2 FM-GwG; § 22 Abs. 9 FMABG (Zusatzstrafe)
- Action
- Fine
- Status of proceedings
- reduced
- Sector
- Financial services and insurance
- Culpability
- negligent
- Mitigating circumstances
- Reduction by the court because the wrongfulness of the offence had been counted twice, cooperation, admission of the facts and of guilt, and termination of the client relationship
- BVwG W204 2306222-1 vom 20.02.2026 Court decision
Checked against the official source on 25 Sep 2026 · Direct link
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17 Feb 2026 BVwG upholds 588,000 EUR FMA penalty against major bank over incorrect risk classification €588,000
The Austrian Federal Administrative Court (Bundesverwaltungsgericht, BVwG) dismissed the appeal of a listed major Austrian bank and upheld the fine of 588,000 EUR (plus 58,800 EUR in procedural costs) imposed by the Financial Market Authority (Finanzmarktaufsicht, FMA) in its penalty decision of 19 November 2024. From 2017 to 2020, the bank had not adequately risk-classified three business relationships and had disregarded sector risks such as gambling and precious metals trading as well as cash intensity; an appeal on points of law has been permitted.
Customers from gambling or precious metals trading with a high share of cash belong in a higher risk class – otherwise the enhanced obligations are missing.
Risk classification of cash-intensive high-risk sectors
- Authority / court
- Bundesverwaltungsgericht (BVwG); Straferkenntnis der Finanzmarktaufsicht (FMA) vom 19.11.2024
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- § 6 Abs. 5 i. V. m. § 34 Abs. 1 Z 2 und § 35 Abs. 1–3 FM-GwG
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- BVwG W204 2304676-1 vom 17.02.2026 Court decision
Checked against the official source on 25 Sep 2026 · Direct link
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10 Feb 2026 Paxful Holdings Inc.Crypto platform Paxful: 4 million USD penalty after guilty plea to BSA infringements €3.36m
Following a guilty plea to charges including conspiracy to operate an unlicensed money transmitting business and to violate the AML obligations of the Bank Secrecy Act, the peer-to-peer crypto platform was sentenced to a penalty of 4 million USD. 112.5 million USD would have been appropriate, but the US Department of Justice (DOJ) found an inability to pay; in December 2025, FinCEN had additionally imposed a civil penalty of 3.5 million USD.
Crypto platforms without registration and KYC face criminal liability – up to the limit of their ability to pay.
- Authority / court
- U.S. Department of Justice
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Travel Act; Verschwörung zum Betrieb eines nicht lizenzierten Geldtransfergeschäfts und zur Verletzung der AML-Pflichten des Bank Secrecy Act
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Culpability
- intentional
- Mitigating circumstances
- Penalty limited from 112.5 million to 4 million USD because of proven inability to pay
- Published
- 11 Feb 2026
Original amount 4,000,000 USD, converted at the ECB reference rate of 10 Feb 2026.
- Virtual Asset Trading Platform Sentenced for Violating the Travel Act and Other Federal Criminal Charges Press release of an authority
- FinCEN Assesses $3.5 Million Penalty Against Paxful for Facilitating Suspicious Activity Involving Illicit Actors Press release of an authority
- FinCEN Consent Order Imposing Civil Money Penalty – Paxful, Inc. and Paxful USA, Inc. (Number 2025-02) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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28 Jan 2026 CCV Group B.V.Netherlands: payment institution CCV without integrity risk analysis – 406,125 EUR fine €406,125
Until March 2018, the payment institution had no systematic integrity risk analysis (SIRA) and therefore no systematic identification and analysis of integrity risks for its gatekeeper function. The Dutch central bank (De Nederlandsche Bank, DNB) imposed the fine in 2020; following objection and appeal proceedings, it was fixed at the reduced amount of 406,125 EUR by the decision of 28 January 2026 and was published in July 2026.
Without a documented integrity risk analysis, any money laundering prevention lacks its foundation – and that alone is subject to fines.
- Authority / court
- De Nederlandsche Bank (DNB)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Art. 3:10 Wet op het financieel toezicht (Wft); Art. 10 Besluit prudentiële regels Wft (Bpr)
- Action
- Fine
- Status of proceedings
- reduced
- Sector
- Financial services and insurance
- Mitigating circumstances
- Fine reduced in the objection and appeal proceedings
- Published
- 21 Jul 2026
- Fine for CCV Group B.V. for lack of SIRA Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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20 Jan 2026 Cardif Lux Vie S.A.Cardif Lux Vie: 615,000 EUR over deficiencies in money laundering questionnaires and customer files €615,000
An on-site inspection in 2023 revealed that the life insurer in some cases did not handle the mandatory money laundering risk assessment questionnaires in compliance with the rules, that the employees responsible lacked sufficiently precise instructions and that customer files contained many incorrect answers. The Commissariat aux Assurances (Luxembourg insurance supervisory authority, CAA) imposed 615,000 EUR.
Risk questionnaires are only as good as the guidance given to those who complete them – clear work instructions and training are part of this.
Money laundering risk assessment by employees
- Authority / court
- Commissariat aux Assurances (CAA)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- Loi modifiée du 12 novembre 2004 (LBC/FT), Art. 2-1, 8-4, 8-5; Règlement CAA 20/03
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Close cooperation with the CAA during and after the inspection; remediation plan for all deficiencies submitted promptly.
- Published
- 1 Jul 2026
- CAA – Sanction administrative Cardif Lux Vie S.A. (01.07.2026) Decision of an authority
- CAA – Sanctions et autres mesures administratives Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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11 Dec 2025 Nationwide Building SocietyFCA: £44 million against Nationwide over financial crime controls €50.4m
The UK Financial Conduct Authority (FCA) imposed £44,078,500 (after a 30% discount) because, from October 2016 to July 2021, the building society had no effective systems to keep due diligence and risk assessments for personal customers up to date, and did not identify personal accounts used for business purposes. As a result, one customer received 24 fraudulent Covid furlough payments totalling £27.3 million.
Keep customer profiles continuously up to date – anyone who postpones known weaknesses for years ends up paying for the abuse.
Identifying personal accounts used for business purposes
- Authority / court
- Financial Conduct Authority (FCA)
- Area of law
- Money laundering and terrorist financing · Customer due diligence
- Legal basis
- FCA Principle 3; SYSC 6.1.1R und 6.3.1R
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Mitigating circumstances
- 30% settlement discount
- Published
- 12 Dec 2025
Original amount 44,078,500 GBP, converted at the ECB reference rate of 11 Dec 2025.
- FCA fines Nationwide £44m for failings in financial crime controls Press release of an authority
- 2025 fines | FCA Enforcement database of an authority
- Final Notice: Nationwide Building Society (11.12.2025) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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5 Nov 2025 Coinbase Europe LimitedIreland: 21.5 million EUR against Coinbase Europe – 30 million transactions unchecked €21.5m
In a settlement of 5 November 2025, the Central Bank of Ireland imposed a reprimand and 21,464,734 EUR (after a 30% discount on 30,663,906 EUR) for breaches of transaction monitoring obligations between April 2021 and March 2025: because of configuration errors in the monitoring system, more than 30 million transactions worth over 176 billion EUR – around 31% of all transactions – were not properly monitored over a period of twelve months. The subsequent review took almost three years and led to 2,708 suspicious transaction reports; the High Court confirmed the sanction on 12 January 2026, and it is the Central Bank's first enforcement action in the crypto sector.
Test monitoring rules regularly for complete coverage – a silent configuration error can go undetected for years.
- Authority / court
- Central Bank of Ireland
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Criminal Justice (Money Laundering and Terrorist Financing) Act 2010
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- 30% settlement discount
- Published
- 6 Nov 2025
- Enforcement Action against Coinbase Europe Limited Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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28 Oct 2025 Landesbank Hessen-Thüringen Girozentrale (Helaba)BaFin: fine against Helaba over inadequate monitoring systems for money laundering prevention €20,000
By decision of 28 October 2025 (final since 7 November 2025), Germany's Federal Financial Supervisory Authority (BaFin) imposed a fine of 20,000 EUR because, from October 2022 to September 2023, the Landesbank operated data processing systems for money laundering prevention that were only partially adequate. Under the German Banking Act (KWG), the criteria by which monitoring identifies suspicious transactions must be documented, and the systems must be checked regularly by an independent auditor.
Transaction monitoring needs documented indicators and a regular independent quality review – the mere existence of software is not enough.
- Authority / court
- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- § 56 Abs. 2 Nr. 11b KWG (Betrieb angemessener Datenverarbeitungssysteme zur Geldwäscheprävention)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 10 Dec 2025
- Mangelhafte Geldwäscheprävention: BaFin setzt Bußgeld gegen die Landesbank Hessen-Thüringen Girozentrale fest Press release of an authority
- Bekanntmachung zur Landesbank Hessen-Thüringen Girozentrale Official register or notice
Checked against the official source on 25 Sep 2026 · Direct link