KUALA LUMPUR (Feb 4): New York, US-based Dotdash, which publishes investment education website Investopedia, claimed today that the group is working closely with the Securities Commission Malaysia (SC) after the SC included a “possible clone” of Investopedia in the regulator’s investor alert list for carrying on unregulated activities in Malaysia.
Dotdash head of communications Meredith Worsham wrote in an email today to theedgemarkets.com that based on Dotdash s investigation, Investopedia does not appear to be cloned at this time. We are working closely with the MSC (Malaysia s Securities Commission) on this matter,” Worsham claimed.
At the time of writing this report, the SC had not issued a statement in response to Dotdash’s claim.
By Jaclyn Jaeger2020-12-22T21:14:00+00:00
Financial institutions have been hit with $10.4 billion in global fines and penalties related to anti-money laundering (AML), know your customer (KYC), data privacy, and MiFID (Markets in Financial Instruments Directive) regulations in 2020, bringing the total to $46.4 billion for those types of breaches since 2008.
That’s according to analysis conducted by Fenergo, a provider of client onboarding lifecycle management software for the financial services industry. The report, covering up to its release date Dec. 9, says there has been 198 fines against financial institutions for AML, KYC, data privacy, and MiFID deficiencies, representing a 141 percent increase since 2019.