Banking, Compliance News, EU/Europe
The German financial crime watchdog has ordered a Greek bank to improve AML standards.
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Financial Conduct Authority
The FCA's decision to ban Darren Antony Reynolds from working in financial services and fine him £2,037,892 has been upheld by the Upper Tribunal. Mr Reynolds was dishonest when he gave pension transfer advice and investment recommendations to his customers, causing them significant harm. Mr Reynolds showed a clear disregard for his customers’ interests. He encouraged British Steel Pension Scheme members to transfer out of their defined benefit pension scheme, despite knowing that the advice was wholly unsuitable. He also advised his customers to invest in high-risk and unsuitable products while at the same time hiding high exit fees and forging documents.
GRECO
From 12 to 16 January 2026, a delegation comprising four GRECO evaluators (Ireland, Latvia, Slovak Republic and Switzerland) and one member of the Secretariat visited the United Kingdom to carry out the on-site evaluation under its 6th Round, aimed at preventing corruption and promoting integrity at the sub-national level. London, the capital, and the county of Kent volunteered to participate in this evaluation. During the visit, the delegation met with numerous authorities and stakeholders from central and oversight bodies, local and regional councils and public administration, as well as from civil society and the academia. An evaluation report assessing the situation in the country and the two selected sub-national authorities will be drawn up and examined by the GRECO plenary in 2026.
HKMA
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA. Hyperlinks to the press releases are available on the HKMA website.
| Bank | Type of Scam |
|---|---|
| The Bank of East Asia, Limited | Fraudulent websites and internet banking login screens |
| Shanghai Commercial Bank Limited | Fraudulent website and internet banking login screen |
| OCBC Bank (Hong Kong) Limited | Fraudulent website and internet banking login screen |
| Industrial Bank Co., Ltd. | Fraudulent website |
| Chong Hing Bank Limited | Fraudulent website and internet banking login screen |
