Executive DirectorFinancial Accountability and Corporate Transparency Coalition
The House Financial Services Committee is preparing to vote on legislation to modernize anti-money-laundering rules, but the latest version of the bill excludes a key provision involving the collection of beneficial ownership information.
Republican congressmen Blaine Luetkemeyer and Steve Pearce say their new legislation would update anti-money-laundering and counterterrorism requirements for small financial institutions.
A river of drug-cartel money flowed through the U.S. arm of Dutch banking giant Rabobank, and now federal investigators are pursuing criminal cases against former senior executives for allegedly covering it up.
Kam Wong, chief executive at the high-profile, $2.9 billion credit union that serves the NYPD, among other municipal workers, has been charged with fraud.
Attorneys for then-President Robert Harra said he is innocent and will file an appeal. The case centers on a scheme said to have been carried out during the crisis years, before the bank was sold to M&T.
Modernized bank technology and improved data sharing would sharpen anti-money-laundering efforts, making crime like human trafficking more risky and less profitable.
The Treasury Department on Wednesday named Kenneth A. Blanco, a longtime criminal prosecutor with the Justice Department, the director of the Financial Crimes Enforcement Network.
Armed heists are becoming less common, but the overall number of robbery attempts has ticked back up in recent years. The opioid epidemic is a likely reason, according to an industry expert.
Husband and wife claim they were fired for raising concerns about the bank’s sales practices; commercial mortgage-backed securities on pace to top last year’s volume.
