In August, the regulator imposed 36 fines against 10 banks operating in Mexico. The sanctions amount to 25.4 million pesos as a whole.
Invex, Actinver and Santander were the three banks with the highest fines, according to data from the National Banking and Securities Commission ( CNBV ) released this Monday. Invex received three fines for 2.26 million pesos each for not providing administrative and accounting information in 2017.
Actinver was fined 4.8 million pesos for omitting information required by the regulator in 2018 and 2019. The sanctions can be challenged by the bank.
Santander was sanctioned with 4.7 million pesos for providing inconsistent information and failing to comply with the obligations related to the Liquidity Coverage Ratio. The penalties have already been paid by the bank, according to the regulator.
Scotiabank received 9 fines that together amount to 3.5 million pesos. The reasons for their sanctions were: not sending information within the period established by the regulator and failing to comply with measures to prevent money laundering.
Autofin , fined 2.7 million pesos, was accused of exceeding the permitted investment limits.
HSBC was sanctioned with 1.03 million pesos and BBVA Mexico with 806,580 pesos. The first bank was fined for not delivering information to the regulator on time, while BBVA received the fine because in 2021 its internal audit area did not verify that the information delivered to the regulator was correct and timely.
Bansi , the financial institution of Jalisco origin, received a fine of 422,450 pesos for sending incorrect information to the regulator. Banorte was fined 226,470 pesos for deficiencies in internal control. Finally, ABC Capital , the bank that was acquired by the Argentine fintech Ualá, was fined 377,450 due to internal control deficiencies and deficiencies in internet banking security; both events occurred in 2017.
