Financial crimes

Credit unions could be caught in the same net that led to the $586 million settlement the global money transmitter submitted to earlier this year.

A trade group owned by the nation's largest banks wants Congress to require state governments to collect information about the true ownership of the companies they incorporate. Such a law could reduce the banking industry’s cost of complying with anti-money-laundering rules.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

Any money laundering investigation could ultimately entangle banks that have done business with President Trump and his various firms over the years.

The regulator has banned a half dozen former credit union employees from participating in the affairs of any federally insured financial institution.

The Treasury Department's Financial Crimes Enforcement Network said Merchants failed to properly monitor money-services businesses that had ownership ties with bank insiders.

The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

As the Bank Secrecy Act approaches its 50th anniversary, legitimate questions have arisen about the efficacy of anti-money-laundering requirements and the burden of compliance.

Many customers at Neighborhood National Bank in San Diego offer check-cashing services that draw attention for Bank Secrecy Act compliance.

The Clearing House asks Fincen to do more to fight AML; two federal courts side with consumer agency in separate cases, including question about its constitutionality

The financial industry has been bracing for the Trump administration’s planned revisions to Dodd-Frank, but banks are taking aim at another, potentially even more consequential regulatory framework: the rules and procedures around curbing money laundering and financial support of terrorism.

PayPal Holdings Inc.’s anti-money laundering program received subpoenas for information from the U.S. Department of Justice, the company said Wednesday in a filing.

Two-thirds of U.S. nonprofit organizations with operations in foreign countries have been affected by banks’ de-risking practices, according to a report released Tuesday.

The information giant agreed to buy two data businesses from the DTCC as regulators' demands for transparency fuel calls for shared industrywide solutions.

The American Bankers Association has added a feature to its national crime database to help banks monitor and analyze ATM skimming.

Cambridge Blockchain, a startup that bills its technology as a solution for banks to the competing regulatory imperatives of transparency and privacy, has raised $2 million through a convertible note.

Federal and state regulators on Friday announced that BB&T has agreed to a consent order over weaknesses in its Bank Secrecy Act and anti-money-laundering program.

The deal had been delayed since Investors had been hit with a BSA-related regulatory order.

Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.