Financial crimes

The allowance by some states for companies to incorporate without disclosing beneficial owner information significantly hampers anti-money-laundering efforts and drives up bank costs.

The report in the New York Post alleges that the bank violated anti-money-laundering laws by filing incorrect call reports to hide loans made to foreign nationals.

A full changeout of AML and KYC rules would stress compliance. Working to improve current practices would be better for the financial services and payments industries.

Data and analytics tools can help banks and credit unions detect financial patterns that may indicate that human trafficking is occurring.

Low scores make it harder for banks to get regulatory OKs to expand, but Wells is in retrenchment mode anyway.

Data and analytics tools can help banks detect financial patterns that may indicate that human trafficking is occurring.

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.

Community banks, which could be the hardest hit if economic tensions between the U.S. and Mexico escalate into a tariff battle, are urging policymakers to refrain from rash action, and big banks are already trimming exposures.

Cash that flowed from Russia through a vast money-laundering network sometimes ended up passing through the world's largest banks, including Citigroup, Bank of America, and HSBC, the Guardian reported, citing a cache of financial records it reviewed.

The latest numbers underscore the extent of the challenge that the megabank faces in restoring its once-clean public image.