Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Compliance, Compliance News, Financial Crime, US

NEWS: Citigroup hit with fines of $136m for ‘insufficient progress’ in fixing compliance failures 

Premium July 11, 2024

CEO Jane Fraser has sought to grow profits, simplify the company and fix its longstanding regulatory problems. In 2020, the Office of the Comptroller of the Currency and the Federal Reserve fined Citi $400 million and ordered the bank to fix persistent risk management and data governance failures.

NEWS: Frankfurt prosecutors conducted search at Deutsche Bank branch on Tuesday

 Premium

ANALYSIS: Europe has a crypto problem: now MEPs want AMLA chair to explain her plans for CASP supervision

 Premium

NEWS: Ex-head of Spanish police AML unit accused of facilitating €2.5bn in drug shipments

By Paul O’Donoghue

Citigroup has been hit with a pair of fines by U.S. regulators totaling just under $136 million due to a lack of progress in addressing various compliance issues.

The Federal Reserve and the Office of the Comptroller of the Currency (OCC) imposed penalties of $60.6 million and $75 million respectively.

AML Intelligence
Subscribe now to have unlimited access

With our membership subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!

View subscription optionsIf you have an account, log in

NEWS: Frankfurt prosecutors conducted search at Deutsche Bank branch on Tuesday

 Premium

ANALYSIS: Europe has a crypto problem: now MEPs want AMLA chair to explain her plans for CASP supervision

 Premium

NEWS: Ex-head of Spanish police AML unit accused of facilitating €2.5bn in drug shipments

Regulatory Watch News

  • AMLA Chair presents 2025 Consolidated Annual Activity Report to the European Parliament

    AMLA

    AMLA Chair Bruna Szego presented the Authority’s 2025 Consolidated Annual Activity Report today at a public hearing of the European Parliament’s Committee on Economic and Monetary Affairs (ECON) and Committee on Civil Liberties, Justice and Home Affairs (LIBE). The report provides an overview of AMLA’s institutional development and the progress made in 2025 across its core tasks: developing the EU Single Rulebook, strengthening AML/CFT supervision and supporting cooperation between Financial Intelligence Units.

  • Italy: EPPO indicts six suspects in fraud investigation involving sustainable mobility project

    European Public Prosecutor's Office

    (Luxembourg, 15 July 2026) – The European Public Prosecutor’s Office (EPPO) in Bologna (Italy) has indicted six individuals before the competent Italian court for suspected fraud involving EU funding under the LIFE programme, intended to support sustainable mobility initiatives in the Tuscan municipalities of Isola del Giglio, Monte Argentario and Orbetello. The investigation concerns a project financed through the EU’s LIFE programme, a funding instrument supporting environmental, climate and energy transition initiatives. The project aimed to promote integrated sustainable mobility through the use of electric vehicles, including bicycles, scooters, cars and boats. It also envisaged electric boats for navigation in the Orbetello lagoon.

  • Appeal for assistance after more than 500kg cocaine seized in Sydney

    Australia Federal Police

    The AFP is seeking information from members of the public after 534kg of cocaine was found hidden inside a shipping container in Sydney this week (13 July, 2026). Australian Border Force (ABF) officers examined the consignment, which was bound for Victoria, and identified a significant number of suspicious packages inside the container. ABF officers inspected the consignment and located 14 duffel bags concealed under a tarp inside the shipping container.

Sign Up To Our Newsletter

Contact Us