US Regulator Clamps Down on Overseas Institutions

January 30, 2020

US regulators such as the Securities and Exchange Commission (SEC) have fined foreign banks and financial institutions a total of $4.1 billion in 15 months between 2018-2019 for breaches of anti-money laundering (AML) and ‘know your customer’ (KYC) regulations, as well as failures to comply with sanctions against Iran, Cuba, North Korea, Sudan, Libya and Myanmar.

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