Anti-money laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. Though anti-money-laundering laws cover a relatively limited range of transactions and criminal behaviors, their implications are far-reaching.
The Federal Reserve has terminated a decade-old enforcement action against Citigroup that focused on deficiencies tied to the banking giant’s anti-money laundering (AML) practices. On...
TD Bank is reportedly settling a case involving illegal “spoof” orders by a former trader. The Canadian bank will pay more than $20 million as...
TD Bank is reportedly close to a possible plea related to its anti-money laundering measures. The Canadian bank is in discussions with U.S. prosecutors over...
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has withdrawn its finding that ABLV Bank, AS is a financial institution of primary money laundering concern, because the...
Revolut’s chairman is reportedly part of a group aiming to purchase part of Banque Havilland. Martin Gilbert is among the investors in talks to buy the Monaco-based arm...
Oracle has launched a new service designed to help banks, FinTechs and other financial services companies identify potential financial crime and compliance issues and reduce...
Trouble with federal regulators continues for Wells Fargo. The Office of the Comptroller of the Currency (OCC) said Thursday (Sept. 12) that it has signed...
If you’re tracking year-to-date news stories, Banking-as-a-Service (BaaS) has been in the hot seat. The situation surrounding the Synapse bankruptcy and the limited ripple effect...
Sweden’s Financial Supervisory Authority (FSA) reportedly criticized Klarna’s risk assessment, saying the company has not done enough to battle money laundering and terrorist financing. The...