AML

Readers sound off an attempt to block prepaid regulations, threats to consumer privacy, FSOC’s political bent, the proper use for SARs, and more.

Issuers and other organizations accept a nominal level of money laundering. Machine learning and artificial intelligence can improve that.

Unlike other “suspicious activity report” categories, a new proposal to add a “cyberevent” category would require institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.

Readers weigh in on a notable OCC personnel change, the Scottrade breach, the ability of corporate owners to still be anonymous and more.

Banks tend to blame regulatory costs for de-risking without being honest about the need to improve anti-money-laundering procedures.

A legal dispute between Wells Fargo and one of the largest bitcoin exchanges underlines persistent doubts U.S. banks have about participating in digital currency.

The allowance by some states for companies to incorporate without disclosing beneficial owner information significantly hampers anti-money-laundering efforts and drives up bank costs.

A full changeout of AML and KYC rules would stress compliance. Working to improve current practices would be better for the financial services and payments industries.

Data and analytics tools can help banks and credit unions detect financial patterns that may indicate that human trafficking is occurring.

Data and analytics tools can help banks detect financial patterns that may indicate that human trafficking is occurring.