Banking Compliance Financial Systems Foreign Exchange 
PYMNTS
JANUARY 30, 2019
The New York Department of Financial Services (DFS) announced it has fined Standard Chartered $40 million for attempting to rig transactions in foreign exchange (FX) markets between 2007 and 2013. The bank also agreed to provide the DFS with ongoing progress reports to prove that it is meeting the objectives.
PYMNTS
DECEMBER 28, 2020
Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Reuters quoted central bank Vice Gov.
PYMNTS
SEPTEMBER 8, 2016
Times thousands of payments a day that find their way into the institution’s bank account. Off to the bank they go, and $60,000 is sent to the MIT account specified. As Frere pointed out, in many cases, the sender of funds doesn’t know how much it will cost them to convert their renminbi to dollars once they leave the bank.
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