Legal issues and news

While the eventual emergence from lockdown will help ease the pressure on overworked compliance departments, there is still an obvious need for tools that will make the anti-money laundering process simpler and stress-free, says SmartSearch's Martin Cheek.

The National Credit Union Administration issued only one prohibition order in April.

Data from Sift and the FBI show how methods scammers adapted during the pandemic.

Malaysia’s 1MDB and a former unit have filed suits against firms including JPMorgan Chase and Deutsche Bank as the nation seeks to recover assets worth more than $23 billion linked to the scandal-plagued state-owned investment fund.

Less than two years after shutting down its biggest business amid fraud allegations, the Michigan company has sold branches, settled a shareholder lawsuit and returned to profitability under turnaround specialist Thomas O’Brien.

JPMorgan Chase was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.

The visibility of automated transactions provides a clear view of the flow of transactions, says Hummingbird's Joe Robinson.

Wall Street firms have urged the Biden administration to ease the industry’s burden in complying with a flood of financial sanctions the U.S. has levied in recent years as a primary tool of foreign policy toward Russia, China, Iran and other adversaries.

Magecart attacks, which target e-commerce websites in order to steal personal data during the checkout process, are picking up steam with cyber attackers, says PermeterX's Ameet Naik.

The risk is growing that criminals or hostile nations could use quantum computing to hack into the ledger systems that control bitcoin and other digital currencies.