money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Source: en.wikipedia.org

Global Regulatory Firm To Tighten Rules On Cryptocurrency
Global Regulatory Firm To Tighten Rules On Cryptocurrency
June 21, 2019  |  Cryptocurrency

The Financial Action Task Force (FATF), a global regulatory firm based in Paris and comprised of countries ranging from China to the U.S., said it...

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Swedbank Estonian CEO And CFO Suspended
Swedbank Estonian CEO And CFO Suspended
June 18, 2019  |  Banking

Swedbank announced that it has suspended the CEO and CFO of its Estonian branch after an investigation into compliance with money-laundering rules at the bank....

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Nordea Bank Under Investigation For Possible Money Laundering
Nordea Bank Under Investigation For Possible Money Laundering
June 17, 2019  |  Security & Fraud

Nordea Bank’s Danish headquarters was raided and searched by the country’s state prosecutor for potential ties to illegal money laundering, according to a report in...

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With New AML Laws, Latvia Looks To Remove Main Regulator
With New AML Laws, Latvia Looks To Remove Main Regulator
June 13, 2019  |  Regulation

Latvia’s parliament has passed new regulation to bolster the fight against money laundering and terrorism financing. After a series of recent scandals, the country’s government...

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Allied Wallet Settles With FTC Over Fraud Charges
Allied Wallet Settles With FTC Over Fraud Charges
June 07, 2019  |  Security & Fraud

Allied Wallet, an online payment provider and a client of Wirecard, settled with the Federal Trade Commission (FTC) last month over charges that it helped...

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European Commission Investigates Past Money Laundering Cases
European Commission Investigates Past Money Laundering Cases
June 07, 2019  |  Europe

A European Union (EU) official has revealed that the European Commission (EC) is taking a close look into past money laundering cases at EU banks...

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Germany’s Watchdog Tells N26 To Boost AML Measures
Germany’s Watchdog Tells N26 To Boost AML Measures
May 23, 2019  |  Regulation

Germany’s financial markets watchdog BaFin has ordered FinTech N26 to boost its anti-money laundering (AML) controls. The news comes after reports in March that a...

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How FIs Are Taking Anti-Money Laundering Precautions
How FIs Are Taking Anti-Money Laundering Precautions
May 20, 2019  |  AML

With one of the world’s biggest money laundering scandals just a few months old, it’s a fitting time to look into the state of security and...

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Ireland’s Growing Invoice Redirect Fraud Problem
Ireland’s Growing Invoice Redirect Fraud Problem
May 17, 2019  |  B2B Payments

Authorities in Ireland have warned businesses about a rise in “CEO fraud” that gets unwitting victims to pay up in invoice redirect fraud. Separately, individual...

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