Financial crimes

Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.

A new survey finds that fraud losses have jumped significantly in the last year, with digital channels and check fraud posing the biggest threats.

A new interagency guidance clarifies when banks must report suspicious activity, easing compliance workloads and narrowing the reporting requirements to focus on higher-value cases.

The Toronto-based bank announced enterprise-wide and business-specific revenue and expense targets, almost exactly one year after it was hit with more than $3 billion in fines and an asset cap for money-laundering-related blunders.

Prosecutors had asked the judge for a stiff sentence, saying that Javice committed a "brazen fraud" when she convinced JPMorgan to pay far more for her company than it was worth.

The Treasury Department's Financial Crimes Enforcement Network is seeking public comment on a survey of anti-money-laundering compliance costs from a variety of nonbanks, including casinos, insurers, lenders and other nonbanks, a possible precursor to deregulatory proposals down the road.

We don't need to reinvent banking to support cannabis. But we do need a clear, federally coordinated compliance framework tailored to the sector. That means establishing uniform standards.

The U.S. Department of Justice declined prosecution after BofA Securities self-reported the violations and fixed major compliance gaps.

Former employees at First Horizon Bank and M&T Bank committed crimes by misappropriating customer data and stealing money from a customer's bank account.

State regulator says blockchain tools are key to detecting money laundering and sanctions violations.

City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.

Republicans on the House Financial Services Committee voted to table a motion by Rep. Joyce Beatty, D-Ohio., to compel the Treasury Department to provide unredacted financial records related to the late child sex trafficker Jeffrey Epstein, effectively quashing the subpoena.

Predators often target boys ages 14 to 17, demanding money or using deepfakes to extort them.

A Republican-led effort to raise Bank Secrecy Act reporting thresholds gains momentum amid debanking rhetoric as lawmakers eye must-pass defense authorization as vehicle for financial regulatory reform.

The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.

The amount was less than $1 million, but the plot reveals clues that can help spot and fight elderly abuse and other financial crimes.

The Office of the Comptroller of the Currency Thursday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.

Markel O'Neal Calhoun, a former Regions Bank employee, has been barred from ever working in the industry again after embezzling $17,981, according to the Federal Reserve.

The bank teller, Khalila Cooper, embezzled $34,000 over a six-month period. She has been banned from the banking industry for her "personal dishonesty," the Fed said.

The crypto-focused firm's OCC trust bid would shift supervision from New York to Washington at a time when regulators are signaling openness to fintechs engaging in banking