-
Banks cannot shrug off the impact of sudden account closures as inevitable collateral damage involved in fighting money laundering.
December 27Tal Solutions -
Despite the surge in tips to the Securities and Exchange Commission in fiscal year 2023, the number of whistleblowers receiving awards dropped sharply.
December 26 -
The process allows artificial intelligence and machine learning to train on the data of many banks, without compromising customer privacy.
December 22Consilient -
Xu Guojun, a former local branch head at Bank of China, was handed a life sentence over one of the Asian nation's biggest bank frauds.
December 14 -
Bank customers' complaints of sudden account closures track a rise in automated anti-money-laundering decisions and possibly outdated AML rules.
December 4 -
The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.
November 28 -
In its biannual report on supervision and regulation, the Federal Reserve Board noted an uptick in governance issues with large banks. Regional and community banks, meanwhile, were plagued by IT problems and risk management struggles.
November 10 -
Fincen's final rule issued Tuesday allows reporting companies to use Fincen identifiers as shorthand for a full list of preapproved beneficial ownership data, which the agency says will streamline the reporting process.
November 9 -
His lawyers characterize him as a math nerd and not a criminal, but the mountain of evidence presented during his trial makes it hard to see him as innocent.
November 7American Banker -
The Treasury Department is expanding a whistleblower program, which currently deals only with anti-money-laundering violations, to include tips from employees of financial institutions that result in sanctions-related penalties.
November 5