Financial crimes

With heightened scrutiny from regulators and the public for wrongdoing, financial institutions need to put more focus on preventing mistakes in the first place.

The Financial Crimes Enforcement Network voluntarily works with tribal law enforcement on anti-money-laundering and counterterrorism initiatives, but is not currently required to do so by statute.

The OCC says it is “disappointed” with the bank as CEO Tim Sloan gets lambasted on Capitol Hill; Goldman Sachs is letting private investors participate in its in-house special-situations unit.

In a tense back and forth with lawmakers, the embattled CEO pushed back on claims that the bank still pressures employees to hit sales targets and retaliates against those who speak up.

More than two years after Wells Fargo's consumer scandals first came to light, the congressional backlash facing the bank is bipartisan and just as fierce.

A Deutsche Bank and Commerzbank merger would face many hurdles; the mini-branch will have longer hours and cater to small companies.

How well Tim Sloan fares before the House Financial Services Committee will hinge largely on his ability to stay on message in the face of what is expected to be sharp criticism from Democratic lawmakers.

The mobile revolution is turning Western Union into a very different company, one that must adjust to new ways to pay while pouring substantial resources into fending off the threat of e-commerce.

Criminals are inventing new ways to hide dirty money amid transactions for digital goods bought and sold on everything from Amazon to game-app sites. Banks need to wake up to the threat, says Ben Duranske, Facebook Payments' former compliance chief.

House Financial Services Committee Chairwoman Maxine Waters said she has advised her staff to seek whatever information it needs in investigating Deutsche Bank's ties to President Trump's businesses.

The white-shoe firm is relaxing its “stuffy” dress code for a more “flexible” one; the CFPB plans to toughen rules on energy-saving project lenders.

Criminals are inventing new ways to hide dirty money amid transactions for digital goods bought and sold on everything from Amazon to game-app sites. Banks need to wake up to the threat, says Ben Duranske, Facebook Payments' former compliance chief.

The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area’s largest bank, handled suspicious transactions.

The settlement would mark a rare instance where the bank stands to benefit monetarily from a scandal that has severely damaged its reputation and cost it hundreds of millions in penalties.

Criminals attempted to defraud five credit unions – including two of the nation's largest – of at least $1 million.

Revolut has caught the attention of U.K. regulators over money laundering compliance, a predicament that sheds light on issues faced by the entire digital financial services industry.

The U.S. embassy wants to meet with Sweden’s financial regulator over AML concerns; revelation that he borrowed to buy Barclays shares doesn’t sit well with others.

Bank’s involvement and complex financing draw ire of Barclay shareholders; banks report financial deceit by those who know seniors.

Bankers should pay attention to a recent case in Wyoming in which regulators have sought to bar two executives for misusing confidential bank information for the benefit of a rival institution.

The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more.