The Two Big Compliance Fines of 2020 Regulatory watchdogs around the world served stiff penalties in 2020, with major financial institutions being asked to own up for their deficiencies and malpractices. Citigroup faced a $400 million fine for risk management shortfalls, JP Morgan was charged $920 million for illicit market activity, Westpac agreed to a record fine of AUD 1.3 billion for anti-money laundering breaches, Goldman Sachs was fined $2.9 billion in connection with the 1MDB scandal, and Wells Fargo saw a huge $3 billion penalty for he fraudulent account fiasco. Read more
VComply Raised $6 Million in Series A Funding: See Where We Are Headed! It is an exciting time for us at VComply! We raised $6 Million in Series A funding to expand VComply's mission to build one of the most intuitive and innovative Governance, Risk, and Compliance platforms in the market. Counterpart Ventures led the round with participation from our current investor Accel Partners. Read more
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