GRC Report Staff

The financial landscape in the Netherlands is facing increasingly turbulent waters, with rising geopolitical tensions and heightened economic uncertainty putting financial stability at risk. De Nederlandsche Bank (DNB) has sounded the alarm in its latest Financial Stability Report, released today, drawing attention to the growing concerns around international trade, government budgets, and the future of European cooperation.

TGP Europe, a prominent gambling operator, has exited the UK market following a series of regulatory breaches uncovered by the UK Gambling Commission. The company, which ran several gambling websites under the branding of other businesses, voluntarily surrendered its UK operating liscence after being informed it would face a £3.3 million penalty unless it made significant improvements to its operations.

Bruna Szego, the Chair of the newly established European Anti-Money Laundering Authority (AMLA), took center stage at the European Anti-Financial Crime Summit (EAFCS) in Dublin last week, unveiling her vision for the future of AMLA and its role in tackling financial crime across the EU.

Coinbase is facing a wave of lawsuits and potential losses approaching half a billion dollars after disclosing a significant cybersecurity incident tied to insider misconduct. According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the crypto exchange revealed that several outsourced customer support agents, based outside the U.S., had been bribed by an unknown threat actor to leak internal customer information.

The GRC Report is proud to announce the launch of its new podcast, Risk Is Our Business, hosted by renowned GRC analyst Michael Rasmussen. The series promises candid, thought-provoking conversations at the intersection of governance, risk, compliance, and culture—cutting through the noise to explore what truly shapes responsible business today.

In the latest wave of FINRA enforcement actions, two firms are facing consequences for serious compliance missteps that have shaken the financial community. Honeycomb Portal LLC, a crowdfunding intermediary, and BTG Pactual US Capital, LLC, a broker-dealer, are each paying the price for lapses in investor protection and money-laundering oversight.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty of $249,480.50 on Marouf Management Inc. This penalty, issued on November 4, 2024, follows a compliance examination carried out in 2023, which uncovered significant failures in Marouf’s anti-money laundering (AML) practices.