Financial crimes

A monitor's report detailing HSBC's compliance with a 2012 agreement with U.S. prosecutors to fix faulty money-laundering controls isn't a judicial document and shouldn't be made public, a federal appeals court said.

Despite assurances that the Department of Justice crackdown on banks' third-party relationships is ceasing, lawmakers say it is still having an impact.

Jerome Powell says it's “now or never” to cut the government’s role in mortgage finance; Justice Department is monitoring eight banks for suspected money laundering.

A judge has approved the inclusion of new payday lenders in a case seeking relief from the effects of Operation Choke Point, and denied defendants' motion for summary judgment against Advance America.

Transaction laundering is gaining steam, and since it uses familiar payment technology, it can be easier to use than virtual currency, writes Ron Teicher of EverCompliant.

The half-dozen former credit union employees are barred form partcipating in the affairs of any federally insured financial institution.

The bill would help financial institutions with customer due diligence and identifying corporate beneficial ownership of business customers.

Payment companies have lots of emerging regulations. Regtech can bring together different stakeholders to ease compliance.

House Democrats are ultimately hoping that the Deutsche investigation will provide more information about President Trump’s business dealings with Russia.

Portable digital identities could improve customer experience, cut costs and generate revenue for banks. But who’s on the hook when something goes wrong?

The plan places a greater burden on bank managers to stop money laundering, with board members overseeing companies caught breaching the law also facing punishment if they fail to intervene.

The Financial Crimes Enforcement Network thanked the $22.4 billion-asset credit union for its BSA reporting, which contributed to solving one of several crimes.

IBM is set to announce new tools on Wednesday aimed at reducing the compliance burden of financial institutions and sifting through the mounds of data they collect by using Watson, its cognitive computer.

As payments get more complex, money laundering and other risks increase. Audits and advanced regulatory technology can help companies keep up, writes Performline CEO Alex Baydin.

Recent NCUA prohibition orders have included restitution payments ranging from $14 million to $18 million, but it remains to be seen whether such stiff penalties will curb the incidence of fraud at CUs.

This is the second consecutive month that restitution payments for accompanying prohibition orders have exceeded $10 million.

Wells Fargo streamlines Western unit, shifts executives as post-scandal overhaul continues; Goldman Sachs gets grief for "cynical" purchase of Venezuelan bonds at deep discount.

The bank agreed to improve anti-laundering controls deemed "unsafe" by the Fed, including oversight of so-called mirror trades that may have helped foreign customers hide large sums of money.

Retail banking chief Mary Mack made several changes, including restructuring leadership in the Western region, where some of the worst incidents in the Wells scandal were said to have occurred.

Jo Ann Barefoot, a former deputy comptroller of the currency, discusses her regtech startup Hummingbird.