Merrill Lynch Was Fined $7.5 Million for SAR Failures. Its Monitoring System Was Working. The Threshold Was Wrong. | Truth Technologies On 29 June 2026, the SEC fined Merrill Lynch, Pierce, Fenner and Smith Incorporated $7.5 million for failing to file Suspicious Activity Reports across a four-year period. The transaction…
OFAC and OFSI Just Published a Roadmap. Here Is What It Means for Your Compliance Program. | Truth Technologies For the first time, OFAC and OFSI have jointly published a side-by-side comparison of their sanctions regimes. If your institution operates under both US and UK sanctions obligations, this document is…
The Bank Blocked the Payment. Sabre Found Another Route. OFSI Called It Circumvention and Issued the UK's Largest Russia Sanctions Fine Since 2022. | Truth Technologies Ural Airlines was designated by the UK under its Russia sanctions regime in May 2022. Sabre Global Technologies Limited was notified of that designation…
Wise Is Being Investigated in Belgium for €500 Million in Suspicious Transactions. It Is the Third Jurisdiction to Fault Its AML Controls. | Truth Technologies Wise processes 4.7 million transactions a day across more than 160 countries. Its AML controls for fintech payment platforms have now been questioned in three…
Nordea Set Aside €95 Million for Its AML Case. Danish Prosecutors Are Asking for €880 Million. | Truth Technologies Nordea set aside €95 million to cover its AML exposure. Danish prosecutors are asking the Copenhagen City Court for €880 million. That gap, nearly tenfold, tells you everything you need to…
New Zealand's Co-operative Bank Is Facing a $1.4 Million AML Penalty. Its Transaction Monitoring Had Not Been Working Correctly Since 2020. | Truth Technologies The transaction monitoring rules were not operating correctly. The assurance testing was inadequate. The record-keeping did not meet legal requirements. And none of it had been…
FinCEN Fined a Florida Credit Union $300,000 for BSA Failures. It Was Processing $2 Billion a Year for High-Risk MSBs. | Truth Technologies A credit union with $4 million in assets and five employees was processing $2 billion a year in transactions for 56 money services businesses across Central America,…
Deutsche Bank London Was Fined £165,000 for a Russia Sanctions Breach. The Regulator Blamed the Screening Gap. | Truth Technologies On 19 May 2026, the UK's Office of Financial Sanctions Implementation (OFSI) published its penalty notice against Deutsche Bank AG London Branch (DBLB), imposing a final settlement of £165,000 for…
Five AML Control Failures Behind the €6M UBS Monaco Fine | Truth Technologies On 7 May 2026, Monaco's Autorité Monégasque de Sécurité Financière (AMSF) published a 77-page sanction decision against UBS (Monaco) S.A., imposing a €6 million fine for failures covering a five-year supervisory review period. The decision is publicly…
On December 31, 2025, FinCEN extended the enforcement date of the landmark Investment Advisor AML Rule to January 1, 2028, giving the roughly 20,000 registered investment advisors (RIAs) and exempt reporting advisors (ERAs) overseeing $119 trillion in assets more time to get compliant. Most firms breathed a sigh of relief.…