Legal issues and news

The wife of a jailed Azeri banker, the target of the U.K.’s first unexplained wealth order, spent almost 16 million pounds ($20.4 million) across Europe, including at Harrods and luxury boutiques, on 10 credit cards issued illegally by her husband’s bank.

Fraudsters are getting clever about beating authentication for returning users, says NuData Security's Robert Capps

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

Compliance can be complex and expensive, but failure puts merchants at risk, says FIME's Christian Damour.

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration.

In the U.K., next-level fraud types — involving technologies such as push payments and P2P — are gaining traction now that EMV has been in place for more than a decade.

Hackers are flocking to loyalty and rewards programs, pushing marketers to embed extra fraud technology to stem financial losses.

Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.

While a bill to require firms to identify their owners has gained bipartisan support, some small companies argue it is burdensome and would subject them to harsh penalties.

Amazon’s move pressures other merchants to add speed to e-commerce delivery while adding a few more steps to vet payments, writes Monica Eaton-Cardone, COO of Chargebacks911 and CIO of its parent company Global Risk Technologies

Deutsche Bank is being investigated by U.S. federal authorities for potential lapses in money laundering compliance, The New York Times reported, citing unidentified people with knowledge of the inquiry.

Banks shouldn’t have trouble this year, but the rules may change next year; U.S. authorities are probing possible AML compliance violations at the German bank.

An acquisition as large as Fiserv's deal to buy First Data has lots of moving parts, but one big piece may be a new First Data product that's designed to improve the vexing problem of payment approvals.

The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.

Truliant Federal Credit Union claims that the BB&T-SunTrust post-merger brand represents trademark infringement and unfair competition.

The National Credit Union Administration's controversial risk-based capital proposal could see further delays or changes as thousands of industry professionals head to CU conferences across the country.

Credit unions and the rest of the financial services sector, in the spirit of recent criminal justice reform, should be more open to hiring workers with low-level criminal convictions.

The fraud challenge faced by issuers and merchants alike has become increasingly complex over the last few years with the prevalence of e-commerce and cross-border payments. Visa's response to these trends has benefited heavily from the global scale it got by reabsorbing Visa Europe in 2016.

As bots dominate new internet traffic, their ability to help crooks launch account attacks and exploit personal information has never been higher, says NuData Security's Robert Capps.

Hard sell ahead for BB&T-SunTrust as ‘Truist’ lands with a thud; Citizens looks to poach BB&T-SunTrust talent; what the Senate AML bill means for banks; and more from this week’s most-read stories.