FinCEN

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier.

Attorney General-nominee William Barr signaled this week he was not likely to crack down on financial institutions serving pot businesses, but even if he is confirmed and sticks with his assurance, the situation is far from resolved

Attorney General-nominee William Barr signaled this week he was not likely to crack down on financial institutions serving pot businesses, but even if he is confirmed and sticks with his assurance, the situation is far from resolved

The objectives of a Financial Crimes Enforcement Network rule requiring financial institutions to collect “beneficial ownership” details are laudable, but the regulation can be subverted by unscrupulous customers.

The National Credit Union Administration and other federal regulators said in a joint statement that they will take an institution's level of innovation into account in supervising its anti-money-laundering procedures.

The federal regulators said in a joint statement that they will take a bank's level of innovation into account in supervising its anti-money-laundering procedures.

As Congress weighs Bank Secrecy Act reforms, some worry that reducing suspicious transaction filings would be a gift to criminals.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed.

Democrat Maxine Waters, in line to take over the House Financial Services Committee, told colleagues she would undertake a deep dive into President Trump's "money trail," beginning with ties to Deutsche Bank.

Banks ask Congress for help with a rule that forces them to estimate loan losses; The network will allow banks to "exchange and verify trade information."

The U.S. has arrested a Treasury Department employee for leaking confidential bank records pertaining to Paul Manafort, Rick Gates, the Russian Embassy and Maria Butina, who's been accused of being a Russian agent.

The agencies issued a joint statement on the types collaborative arrangements that a bank could employ to make BSA/AML compliance more efficient.

The agency said it would not apply the data collection requirement for existing accounts that automatically renew or roll over, such as certificates of deposit or commercial credit cards.

Many financial institutions are unaware that they're banking marijuana-related businesses, pot bankers and regtech experts say.

Rep. Emanuel Cleaver, D-Mo., says he is concerned that banks are freezing accounts of customers if they aren't providing citizenship information.

First Green Bank in Florida had to stop holding deposits for licensed marijuana sellers as a condition of making a deal.

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.

With more permanent fixes not yet gaining enough traction, recent attempts to clarify marijuana banking rules through appropriations are also falling flat.

The legislation unveiled this week left out a requirement — included in an earlier version — for new companies to report their true owners.