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German regulator fines Commerzbank over anti-money laundering

non-compliance

German financial watchdog BaFin has ordered Commerzbank (CBKG.DE), opens new tab to pay a fine of 1.45 million euros ($1.55 million) for breaching its anti-money laundering duties, the regulator said on Monday.

Luxembourg’s Financial Sector Supervisory Commission has imposed an administrative fine of €785,000 on the investment firm Fuchs & Associés Finance S.A. (in liquidation) for non-compliance with professional obligations related to anti-money laundering/counter financing of terrorism.

Ex-Binance CEO faces 3-years prison and millions in fines

Changpeng Zhao, the ex-chief executive officer of cryptocurrency exchange Binance, is facing a potential 36-month prison sentence and a US$50 million fine. His sentencing, recommended by the U.S. Department of Justice, is set for April 30.

The European Parliament has approved a broad package of anti-money laundering laws targeting various financial services and entities, including crypto. In addition to enhanced due diligence, the measures will give journalists and other interested entities free and direct access "to beneficial ownership information" in national registries.

5 more charges for accused in $3 billion money laundering case

Chinese national Zhang Ruijin, one of the 10 foreigners arrested in Singapore’s largest money laundering case involving more than $3 billion, was handed five more charges on April 26. Zhang’s defence team confirmed that the April 30 date for him to plead guilty still stands.

The Enforcement Directorate on Saturday arrested a man from Uttarakhand in a money laundering case linked to dark web-assisted international drugs trafficking, official sources said. The agency's action came after US anti-narcotics authorities sought India's assistance to unearth the racket. Parvinder Singh was taken into custody by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) from Haldwan.