AML

The decision to stop enforcing the Corporate Transparency Act, which requires the disclosure of the beneficial ownership of businesses, could make the U.S. an attractive environment for fraudsters.

Time and again, seemingly successful bank mergers have been rocked by revelations of poor anti-money-laundering compliance. Assessing the AML risk of a potential merger partner is extremely tricky.

Banks such as Texas Capital and Synovus say they're learning from anti-money-laundering failures elsewhere. They emphasize the importance of having enough compliance staffers — and ensuring they have the necessary skills.

The software helps identify and investigate crime, then writes a recommendation.  

A new order requires certain non-bank financial companies in certain ZIP codes to report transactions over $200, much lower than the previous $10,000 threshold.

Leo Salom, who has led Toronto-Dominion's U.S. division since 2022, saw his variable pay decline 35% in 2024.

The Canadian bank's U.S. unit is restructuring its balance sheet and managing the fallout of anti-money-laundering compliance failures, but there were some positive indicators in last quarter's results.

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.