AML

Too often, banks confronting a problem with their anti-money-laundering compliance opt for quick fixes that fail to address the root of the problem. Building a good corporate risk culture takes time and investment.

Acting Comptroller of the Currency Rodney Hood suggested Tuesday that regulators should consider raising the dollar amount for mandatory suspicious activity reporting and revising the Herfindahl-Hirschman Index to advance bank mergers.

After nearly 10 years of banking my business, BofA debanked it because of overzealous anti-money-laundering enforcement. The Trump administration must bring back common sense to Bank Secrecy Act compliance.

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.

Since the pandemic, financial scams have surged dramatically. The solutions to rampant fraud are clear; what's missing is the urgency.

Vulnerabilities related to environmental, social and governance issues have become a serious threat vector when it comes to money laundering. Banks must recognize the danger and adapt their systems accordingly.

At TD Bank and some other financial institutions accused of aiding and abetting money laundering, AML and branch employees have colluded and even joked about it in instant messages. Technology is part of the answer to detecting and preventing this.

The tiny community bank handled hundreds of millions of bulk cash shipments from Mexico without red-flagging any of them, the agency said. The bank has filed a motion to dismiss.