January 11, 2023/JSP Communications Guaranty Trust Bank UK Limited (GTBank UK) has reached settlement with the FCA, accepting findings in relation to historical Anti-Money Laundering (AML) controls in its operations in the period October 2014 to July 2019. The Bank has cooperated fully with the FCA investigation and has agreed […]
Frauds & Scandals
SEC Obtains Final Judgment Against Defendant Charged in $43 Million Tribal Bonds Scheme
January 11, 2023/US SEC On January 10, 2023, the United States District Court for the Southern District of New York entered a final consent judgment against defendant Jason Sugarman, ordering him to pay over $10.2 million dollars in disgorgement, interest, and penalties. The judgment resolves the SEC’s charges against Sugarman […]
FCA Fines Guaranty Trust Bank (UK) Limited £7.6m for Further Failures in its Anti-Money Laundering Systems and Controls
January 11, 2023/Proshare Source: Financial Conduct Authority The Financial Conduct Authority (FCA) has fined Guaranty Trust Bank (UK) Limited (GT Bank) £7,671,800 for serious weaknesses in its anti-money laundering (AML) systems and controls between October 2014 and July 2019. During the relevant period, GT Bank failed to undertake adequate customer […]
