AML

The Gulf region poses significant and unique challenges in AML, KYC and other compliance checks, according to Accuity's Nirhjar Daripa.

Know Your Customer and open banking create tough barriers for 'near real-time' account opening, says Entersekt's Jennifer Singh.

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance.

The FDIC chief said it is critical to give the industry clarity on using emerging technologies, particularly for the thousands of community banks her agency oversees.

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance.

Anti-money-laundering regulations are among the most costly, and few criminals get caught. Banks say there’s a better way.

Anti-money-laundering regulations are among the most costly, and few criminals get caught. Banks say there’s a better way.

Banks submit millions of Bank Secrecy Act filings each year, yet only a fraction are valuable to law enforcement.

New regs force financial institutions to go deeper to stop laundering, but the prize is easier overall enrollment, says NTT Data Services' Edmund Tribue.

Finance ministers call for tight regulation of cybercurrencies; Williams says the Fed must “act quickly to lower rates at the first sign of economic distress.”

The consumer bureau said banks are "uniquely positioned" to know if an elderly customer is being targeted by fraudsters.

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation.

A new project backed by the government of Luxembourg could ultimately be influential in the U.S., where banks have been slow to develop a shared platform for digital identities.

David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”

The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”

Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared.

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.

While a bill to require firms to identify their owners has gained bipartisan support, some small companies argue it is burdensome and would subject them to harsh penalties.