Regulatory Tracker

Bank of America disclosed in its SEC quarterly filing that it faces potential new fines tied to a December 2024 OCC consent order over AML deficiencies. The bank said it is continuing to discuss a resolution with the OCC.

Bank of America disclosed it faces potential new fines from the OCC over AML program deficiencies. The bank said it is continuing to discuss resolution of a consent order issued in Dec 2024.

FinCEN imposed a record $125 million penalty on UBS Financial Services for repeated AML failures, including unmonitored foreign wire transfers and four years of uncorrected compliance deficiencies.

FINRA fined UBS Financial $20 million for anti-money laundering violations. The news release was published on Aug 03, 2026.

FinCEN imposed a $125 million civil penalty on the U.S. affiliate of UBS for Bank Secrecy Act violations on Aug 04, 2026. The agency called it the largest such penalty ever against a broker-dealer.

The CFTC fined UBS Financial Services $8 million for failing to supervise AML transaction-monitoring systems. The order also requires the firm to cease and desist from further violations.

EU AI Act transparency obligations (Article 50) and the European Commission's enforcement powers over general-purpose AI providers became effective on August 2, 2026. The AI Office can impose fines up to 3% of global annual turnover or €15 million for violations.

The CFTC on Aug 03, 2026, ordered UBS Financial Services to pay $8 million for failing to supervise the configuration and operation of its AML transaction-monitoring systems for foreign-currency wire transfers.

FINRA fined UBS Financial Services $20 million on Aug 03, 2026 for anti-money-laundering violations. The firm failed to establish a compliance program reasonably designed to detect and report suspicious foreign-currency wire transactions.

FinCEN assessed a $125 million civil money penalty against UBS Financial Services on Aug 03, 2026, for willful violations of the Bank Secrecy Act. The agency called it the largest BSA penalty ever imposed on a broker-dealer.

The FDIC issued a second consent order against Lineage Bank on June 24, 2026, targeting risks from fintech partnerships and funding concentrations. Lineage Bank is a former partner of bankrupt fintech/BaaS platform Synapse.

On July 31, 2026, the Reserve Bank of India issued the 'Commercial Banks – Cybersecurity, Technology: Risk, Resilience and Assurance Framework Directions, 2026,' a sector-wide regulatory framework covering cybersecurity governance, incident response, and third-party risk management. The directions apply to all commercial banks and shape how they must manage risks from fintech partners, outsourced technology providers, and other vendors.

The Central Bank of Nigeria imposed ₦430 million in fines across 21 penalties on financial institutions in 2025 for delays in resolving customer complaints and failure to comply with CBN directives. The sanctions were disclosed in the CBN's 2025 annual report.

FinCEN announced it will not take supervisory or enforcement action against US financial institutions for certain technical breaches of the Bank Secrecy Act and related regulations when those breaches arise from providing financial services to Venezuela. The commitment took effect July 27, 2026 and runs until January 29, 2027.

South Korea's Financial Supervisory Service (FSS) issued new third-party IT risk management guidelines for financial firms using external IT services such as cloud and SaaS. The guidance assigns the board of directors as the ultimate owner of third-party IT risk management.

Germany's BaFin announced it will oversee and enforce compliance around AI usage at banks and insurers, with authority to issue fines. This affects embedded finance and BaaS providers operating under German banking licences that use AI.

The RBI imposed a ₹50,000 penalty on Citizen Cooperative Bank Ltd, Karnataka, for failing to comply with directions on income recognition, asset classification, and provisioning norms applicable to urban cooperative banks.

The RBI imposed a ₹7 lakh penalty on Sangli District Central Cooperative Bank Ltd for contravening Section 20(1) of the Banking Regulation Act, 1949. The bank had sanctioned director-related loans.

The RBI imposed a ₹10.10 lakh penalty on Raigad District Central Cooperative Bank Ltd for violating Section 20(1) of the Banking Regulation Act and failing to comply with credit information company membership directions.

The RBI imposed a ₹1 lakh penalty on Shajapur Jilla Sahakari Kendriya Bank Maryadit for failing to transfer eligible unclaimed amounts to the DEA Fund within the prescribed period.

The Delhi High Court ordered the winding up of Paytm Payments Bank Limited after the RBI cancelled its banking licence in April 2026 for persistent non-compliance. Girikumar M. Nair was appointed Official Liquidator.

The OCC denied Wise's application for a US national trust bank charter, citing BSA/AML/CFT deficiencies at Wise's US subsidiary. Wise US had agreed to pay a $4.2 million administrative fine tied to those compliance failures.

India's Enforcement Directorate (ED) investigated Pune-based Edsom Fintech Pvt. Ltd. for allegedly laundering ₹800 crore in proceeds from an illegal online betting syndicate ('ALL PANEL EXCHANGE') through shell entities, cryptocurrency, and a credit cooperative society's bank account. ED conducted raids in Mumbai, Pune, and Bengaluru, seizing documents, digital devices, and freezing several bank accounts.

The OCC issued a proposed rule for payment stablecoin AML/CFT and sanctions compliance risk management, implementing requirements of the GENIUS Act for permitted payment stablecoin issuers. The American Fintech Council commented on the proposal.