AML

The Consumer Financial Protection Bureau's payday loan proposal threatens many money services businesses on the front lines of stopping money-laundering and terrorist financing.

Credit risk, interest rate risk and cybersecurity concerns pose growing risks to banks in the first half of 2016, according to a semiannual risk report issued Wednesday by the Office of the Comptroller of the Currency.

A startup backed by philanthropist Pierre Omidyar has emerged from stealth mode with technology that promises to provide consistent value and a degree of privacy to electronic money.

News that two suspected terrorists took out a loan with a prominent marketplace lender has fueled fears online lending is more susceptible to terrorist financing. Yet experts said that the criticism directed at the industry appears unfounded. Here's why.

WASHINGTON — New York Governor Andrew Cuomo proposed a requirement on Tuesday that could put bank compliance officers on the hook if a bank's anti-money-laundering system fails to meet state standards.

Services are cropping up that help banks analyze bitcoin transactions for signs of criminal behavior such as money laundering. But such services come with their own risks.

The Bank for International Settlements acknowledges that people may have legitimate reasons to prefer an anonymous payment system.

WASHINGTON — The Association of Certified Anti-Money Laundering Specialists said Tuesday that former Financial Action Task Force executive secretary Rick McDonell will be taking over as the trade association's executive director.

Commercial and retail banking customers in some cases are being marginalized from the financial system, making de-risking a pressing social-policy issue, a Bank of America official said at a Clearing House conference.

How could an agency most people outside of the U.S. have never heard of effectively shut down an overseas bank without much explanation or even a hearing?

Recent U.S. and U.K. assessments of anti-money-laundering and efforts to combat terrorism financing show how the two countries have structured respective approaches to pinpointing key risks.

Peoples Bancorp of North Carolina in Newton has been hit with an enforcement action related to its compliance with anti-money-laundering laws.

East West Bancorp has been placed under an enforcement action for anti-money-laundering compliance weaknesses, as it continues a plan to spend an estimated total of $12 million on program upgrades.

Federal prosecutors on Tuesday charged three men in connection with the mass hack attack on JPMorgan Chase that took place in June 2014.

U.S. Bancorp has been hit with a consent order regarding deficiencies in its anti-money laundering compliance program.

The Treasury Department is still struggling to understand whether some businesses are losing access to the banking system because of heightened enforcement of anti-money laundering requirements and concerns about high risk activities, a top official said Wednesday.

A lack of access to financial services, particularly the inability to transfer funds overseas, can prevent lifesaving work from being carried out and has touched the refugee crisis in Europe, where many aid groups are delivering assistance.

The number of startup companies opting out of the State of New York — more than a dozen — since the financial services department's BitLicense regulation was finalized is troublesome.

There is a time, a place and a customer base for pseudonymous cryptocurrency. For regulated financial institutions, other types of shared ledgers — those whose validators are legally accountable for certain terms of service — may provide unique utility.

Banking regulators have been coy about whether they approve serving marijuana businesses, but lately one regional Fed bank has taken a strong position against the practice. But there are nearly three dozen Fed-supervised banks serving pot companies — one of many seeming inconsistencies in an opaque and confusing regulatory policy.