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Category: Fines

  • Over one million taxpayers face fines after missing self-assessment deadline

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    Investor Empires

    An estimated 1.1 million people in the UK were absent from the reduction of January 31 to submit the annual declarations of self -evaluation tax, according to HM and Customs (HMRC). Each Fair failer now faces a penalty of at least 100 pounds, unless they can prove that they have…

  • Australia plans $30M fines for social media platforms that don’t stop kids from joining

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    Investor Empires

    Social media companies could be fined more than $30 million if they fail to keep children off their platforms, under new laws before the Australian Parliament on Thursday. The legislation would force social media companies to take steps to prevent people under 16 from accessing platforms such as X, TikTok,…

  • Russia fines Google $20 Decillion – more than all the money in the world

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    Investor Empires

    A Russian court has fined Google an astronomical $20 trillion — an amount that significantly exceeds the world’s total money supply — after the tech giant banned accounts belonging to several pro-Kremlin TV channels on YouTube. The case, which has captured global attention due to the unprecedented number of people…

  • Brazil’s top court says X paid pending fines to wrong bank By Reuters

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    Investor Empires

    Written by Luciana Magalhaes SAO PAULO (Reuters) – Brazil’s Supreme Court said on Friday that lawyers representing social media platform Payment of the fines, which X’s lawyers said the company had properly paid, was the only remaining action required by the court in order to allow X to operate again…

  • Brazil’s top court rules X must pay pending fines to resume service By Reuters

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    Investor Empires

    SAO PAULO/BRASILIA (Reuters) – The Brazilian Supreme Court said on Friday that social media platform X needs to pay just over $5 million in outstanding fines in order to resume its service in the country, according to a court document. Earlier this week, the Elon Musk-owned social platform informed the…

  • CEOs face Sh3m fines, jail for failure to set up whistleblower system

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    Investor Empires

    Chief executives of public and private companies face a Sh3 million fine and up to 24 months in prison for failing to set up a whistleblower system, the attorney general’s office said in a draft bill, as the government makes fresh efforts to curb fraud and loss of public funds.…

  • SEC Fines Hit $4.68 Billion In Aggressive Regulatory Push

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    Investor Empires

    The US Securities and Exchange Commission is making headlines after a report revealed that it has carried out an unprecedented crackdown on the cryptocurrency industry: Fines it imposed on cryptocurrency companies jumped to a record $4.68 billion in 2024, up 3,018% from the previous year. Much of the rise comes…

  • Renault CEO says sector could face billions in fines as EV sales slow By Reuters

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    Investor Empires

    PARIS (Reuters) – Europe’s car industry could face fines of up to 15 billion euros ($17.4 billion) over carbon emissions as demand for electric vehicles slows. Renault “The EPA’s chief executive, Luca de Meo, said on Saturday: Carmakers face tougher EU CO2 emissions targets in 2025 with the cap on…

  • Ripple Seeks To Pause Fines As Legal Battle With The US SEC Continues

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    Investor Empires

    In a major turn of events, the payment giant has requested a halt to financial sanctions. Ripple Labs As its long legal dispute with the U.S. Securities and Exchange Commission (SEC) continues. Ripple Takes Bold Step With Residency Application On Wednesday, the Ripple team at letter Apply to stop the…

  • India’s central bank fines Visa for unauthorised payment method By Reuters

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    Investor Empires

    BENGALURU (Reuters) – India’s central bank said on Friday it had imposed a fine of 24.1 million rupees ($288,000) on Visa Inc for using an unauthorised method to transfer payments. “It has been observed that the entity (Visa) has implemented a payment authentication solution without regulatory approval from the Reserve…

  • Record £48 Million in Fines Levied by UK Watchdog on Audit Firms

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    Investor Empires

    Britain’s accounting watchdog, the Financial Reporting Council, has imposed a record £48.2m in fines over the past year, after completing several high-profile investigations, including audits of Carillion and London Capital & Finance. The Financial Reporting Commission, which oversees the country’s audit and accountancy firms, has surpassed its previous record of…

  • CMA fines auditor, company directors over Sh8m for breach of trading rules

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    Investor Empires

    The Capital Markets Authority has fined several directors of listed companies including the auditor over Sh8 million for breaching trading rules in the financial year ending June 30, 2023, new disclosures have revealed. While the authority did not disclose the companies or individuals affected by the sanctions, it said that…

  • CBK fines 12 banks for breach of lending, investment rules

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    Investor Empires

    Kenya’s central bank fined 12 commercial banks last year for breaching rules on lending, capital adequacy and investment, new disclosures show. While the Central Bank did not disclose the affected institutions and the size of the fines, it said that “the Central Bank took appropriate corrective measures regarding the concerned…

  • Nearly one million taxpayers fail to file returns, face KRA fines

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    Investor Empires

    About 953,971 taxpayers failed to file their tax returns with the Kenya Revenue Authority by the June 30 deadline, exposing them to penalties from the tax authority. Official data from South Korea’s tax service shows that 8,046,029 taxpayers filed their tax returns by the end of June, against a target…