Financial crimes

Bribed overseas contractors accessed internal systems, triggering a monthslong breach with costs reaching up to $400 million.

As banks face mounting check fraud, a newly unsealed indictment reveals how one criminal ring exploited weak spots in the system.

Experts warn that stopping modern scams requires more than AI. It takes human oversight, customer engagement and cross-industry collaboration.

A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts.

The decision to stop requiring U.S. companies to report beneficial ownership information is misguided. The compliance burden could be substantially eased by collecting the data at the state level.

An administration willing to rethink longstanding regulatory norms could implement targeted reforms that unlock the potential for increased investment, innovation and job creation across the country.

A former TD Bank employee pleaded guilty to a felony in connection with a check-fraud scheme; EWA provider DailyPay filed a lawsuit against New York Attorney General Letitia James; First Citizens BancShares ended the shared-loss agreement it made with the FDIC after acquiring Silicon Valley Bank; and more in this week's banking news roundup.

Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for its transfer app. This week's fine follows earlier penalties in other states and the federal government.