The reasons for these sanctions contemplated behaviors such as failing to comply with the obligations related to the credit process, making incorrect accounting records, in addition to failing to classify their borrowers. The bank also sent information to the CNBV out of time in 2017.
The second largest fine was received by autofinishwhich accumulated 11 sanctions for a total of 4.72 million pesos. The reasons are for failing to comply with the obligations related to portfolio rating and preventive reserves, for not adjusting to the accounting criteria of the authority, as well as not classifying risks.
bancoppel He had five fines of 422,450 pesos, one for which in total he added 2.11 million pesos in sanctions. The bank did not notify the authority of money laundering risks.
Santander received two sanctions amounting to 2.42 million pesos, HSBC was sanctioned with 1.04 million pesos while Banorte received two sanctions that accumulated 422,450 pesos.
In the case of Valueowned by businessman Carlos Bremer, the fines were 896,200 pesos. While, J. P. Morgan received sanctions for 3.37 million pesos. The fine of the banks amounts to a total of 21.9 million pesos.
In the case of Ensowhose legal name is Grupo Finve, the fine was 2.06 million pesos for breaching the Fintech law. The CNBV said that this company disseminated “false information to carry out the operations referred to in the Law to Regulate Financial Technology Institutions.”
