Financial crimes

Commercial Bank of Ivanovo, in which former North Carolina Representative Charles Taylor owns an 80% stake, regularly broke anti-money-laundering regulations and used “schemes” to artificially inflate its capital, according to a central bank statement.

Compliance officers should demand better means to quickly gather, organize, and view data regarding accounts and transactions that may be partaking in financial crime, argues Elsa Chan, head of Americas for ComplyAdvantage.

The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law.

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue" but that other executives and directors should be removed as well.

The pair subject to the regulator's March prohibition orders both pleaded guilty and were ordered to pay more than $320,000 in restitution, among other punishments.

Tim Sloan couldn't hang on any longer. Here are insights about why he left now, what role policymakers played in the decision and will continue to have in the company's future, and who in the world would want to lead Wells Fargo.

Swedbank fires its CEO as New York State DFS probes alleged money laundering; the underperforming unit will be overseen by CEO Jes Staley.

MoneyGram is investing more time and technology in helping law enforcement agencies spot the scammers moving money on its network.