IBKR - Warning from my bank IBKR has some compliance issues

Investing / Brokers
1

Hello together,

I am using IBKR for several years now and never had an issue.
Yesterday I was making a new transfer of 10 000 CHF to IBKR via my bank (Valiant). Today they called me and asked, if I really wanted to make this money transfer. They have to warn me that IBKR was sentenced multiple times for not complying with inspecting authority. And therefore had to pay a forfeit. I had to actively say, that I am aware of the risk and that I am sure and want to send the money there.

I was like WTF? Never heard of this problem. I told them to make the money transfer.

So out of curiosity, I was wanted to ask you guys if you ever had something like this from your home bank? Did your bank ever warn you about IBKR?

2

For those curious.

Do they also warn you when you do a transfer to UBS: https://www.finra.org/media-center/news-releases/2018/finra-fines-ubs-5-million-significant-deficiencies-aml-programs

(+ the 5B fine from France)

5 Likes
3

Haha good answer. I’m curious, which bank are you talking about here @essential?

4

They said “valiant” in the first post.

5

I actually missed that, thanks :sweat_smile:

6

I thought Valiant was a kiosk that sells newspapers and chocolate.

7

But… but… but… UBS is a Swiss bank.

8

Hehe good one, that’s Valora :wink:

Valiant is that bank with the ugly purple adds…

1 Like