Wise—Fined $4.2M by six US states for AML compliance failures
Wise US, Inc. agreed to pay $4.2 million under a multistate settlement with California, Minnesota, Nebraska, New York, Texas, and one other state for serious shortcomings in Bank Secrecy Act and anti-money laundering compliance. The Multi-State MSB Examination Taskforce found suspicious activity reporting deficiencies, transaction monitoring data integrity issues, and failure to timely correct past deficiencies detected in prior examinations.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Corporate Governance | -against | primary | -1.00 |
| Overall incident score = | -0.443 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.59)× agency (negligent ×0.5)
Evidence (1 signal)
Fined $4.2M by six US states for AML compliance failures
Wise US, Inc. agreed to pay $4.2 million under a multistate settlement with California, Minnesota, Nebraska, New York, Texas, and one other state for serious shortcomings in Bank Secrecy Act and anti-money laundering compliance. The Multi-State MSB Examination Taskforce found suspicious activity reporting deficiencies, transaction monitoring data integrity issues, and failure to timely correct past deficiencies detected in prior examinations.