Day: January 23, 2024

China banking regulation

China Bank AML Settlement Comes with Several Compliance Requirements

On By CC360 Staff

The New York Department of Financial Services (NYDFS) announced that Industrial and Commercial Bank of China (ICBC) has agreed to pay $32 million in penalties pursuant to a Consent Order entered into with the NYDFS. The Consent Order settles the Department’s investigation into numerous Bank Secrecy Act and Anti-Money Laundering Read More

SAP LOGO

SAP to Pay $220 Million to Settle Foreign Bribery Investigations

On By Jacob Horowitz

German software company SAP will pay more than $220 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act (FCPA). The SEC found that SAP violated the FCPA by paying bribes to foreign officials in South Read More