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

OCC Fines Capital One $100M Over AML Lapse
OCC Fines Capital One $100M Over AML Lapse
October 24, 2018  |  Regulation

The Office of the Comptroller of the Currency (OCC) announced that it has fined Capital One $100 million due to shortcomings in the company’s Bank...

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Scandal-Ridden Danske Handled More Than $1T In X-Border Payments
Scandal-Ridden Danske Handled More Than $1T In X-Border Payments
October 23, 2018  |  Security & Fraud

Danske Bank, which is involved in a 200 billion euro ($230 billion) money laundering scandal in Estonia, revealed that it processed more than $1 trillion...

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Bitcoin Daily: Feds Promise AML Crypto Regulation By June 2019
Bitcoin Daily: Feds Promise AML Crypto Regulation By June 2019
October 21, 2018  |  Bitcoin

The Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first...

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Why Digital ID Is A Sports-Gambling Sure Bet
Why Digital ID Is A Sports-Gambling Sure Bet
October 16, 2018  |  Fraud Prevention

Few things make a sporting event more interesting than wagering a few bucks (or more) — whether it be a football game between two mediocre...

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Today In Data: Offering Innovations In Risk-Rich Environments
Today In Data: Offering Innovations In Risk-Rich Environments
October 15, 2018  |  Today In Data

Where there are underserved consumers looking to enter the digital ecosystem, there are innovators big (and, in some cases, very big) and small looking to serve them. But...

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Report: 64 Percent Of Countries Have Money Laundering Risk
Report: 64 Percent Of Countries Have Money Laundering Risk
October 12, 2018  |  International

Amid the headlines detailing the billions of dollars in money laundering done through conduits like Danske Bank and Deutsche Bank, among others, a report shows...

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Small Businesses Draw The Line On Lack Of Digital Banking
Small Businesses Draw The Line On Lack Of Digital Banking
October 11, 2018  |  B2B Payments

Europe’s largest banks have landed in the hot seat, thanks to a recent Fortytwo Data report that found 90 percent had been sanctioned for money...

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China Central Bank Creates AML Regulations For Online FIs
China Central Bank Creates AML Regulations For Online FIs
October 11, 2018  |  Regulation

The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). According to Reuters, the new...

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EU Cracks Down On Passport Sales Due To Money Laundering
EU Cracks Down On Passport Sales Due To Money Laundering
October 10, 2018  |  Europe

The European Commission announced Wednesday (October 10) that it plans to provide European Union states with guidelines for handling national schemes to sell passports and...

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