Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America, Latin America, Asia-Pacific and Middle East: 1,929 cases from 40 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 authority- Hong Kong Monetary Authority (HKMA) €485,944 100 % · 1 case
What for?
by area of lawAll areas of law
Who?
by company- Hang Seng Bank Limited €8.1m 39 % · 1 case
- Deutsche Bank Aktiengesellschaft €2.62m 13 % · 1 case
- EFG Bank AG €1.19m 6 % · 1 case
- Xinhu International Futures (Hong Kong) Co., Limited €1.06m 5 % · 1 case
- Kylin International (HK) Co., Limited €968,909 5 % · 1 case
- Indian Overseas Bank, Hong Kong Branch €925,553 5 % · 1 case
- UBS AG €883,431 4 % · 1 case
- Instinet Pacific Limited €875,254 4 % · 1 case
- China Industrial Securities International Asset Management Limited €761,367 4 % · 1 case
- China CITIC Bank International Limited €485,944 2 % · 1 case
- 8 more€2.68m
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q4 2023 | 0 | – |
| Q1 2024 | 0 | – |
| Q2 2024 | 0 | – |
| Q3 2024 | 0 | – |
| Q4 2024 | 1 | €485,944 |
| Q1 2025 | 0 | – |
| Q2 2025 | 0 | – |
| Q3 2025 | 0 | – |
| Q4 2025 | 0 | – |
| Q1 2026 | 0 | – |
| Q2 2026 | 0 | – |
| Q3 2026 | 0 | – |
| Q4 2026 | 0 | – |
1 case
6 Dec 2024 China CITIC Bank International LimitedHKMA: HKD 4m fine for China CITIC Bank International over misconfigured rules €485,944
The HKMA imposed a pecuniary penalty of HKD 4 million on China CITIC Bank International because, in the transaction monitoring system it used from November 2015, 13 of 33 detection rules and two core model rules were not implemented as intended until July 2018, so fewer alerts were generated. For 12 of 30 sampled customers, the bank did not examine the background and purpose of unusual transactions. The HKMA identified the lack of a maker-checker control over system values and inadequate acceptance testing as root causes.
The parameters of a monitoring system belong under maker-checker control and must be tested against the business requirements before going live.
Maker-checker controls and testing when configuring monitoring systems
- Authority / court
- Hong Kong Monetary Authority (HKMA)
- Area of law
- Money laundering and terrorist financing · Internal controls
- Legal basis
- Section 21(2)(c) Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615); Sections 5(1)(c) und 19(3) Schedule 2 AMLO
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Repeat case
- no
- Mitigating circumstances
- Remedial action, no previous disciplinary record under the AMLO and cooperation with the HKMA.
- Published
- 6 Dec 2024
Original amount 4,000,000 HKD, converted at the ECB reference rate of 6 Dec 2024.
- Monetary Authority takes disciplinary action against China CITIC Bank International Limited for contraventions of the AMLO Press release of an authority
- Statement of Disciplinary Action – China CITIC Bank International Limited Decision of an authority
Checked against the official source on 3 Oct 2026 · Direct link