Legal issues and news

American Express Ventures has become an investor in the startup EverCompliant, which helps financial institutions root out e-commerce websites backed by terrorists and drug cartels that are laundering money through payments-processing networks.

To detect and combat transaction laundering — the practice of hiding illegal activity behind a business that appears legitimate — American Express' investment group took a minority equity stake in EverCompliant.

OCBC Bank in Singapore has seen a 35% reduction in false positives in its tests of artificial intelligence-based anti-money-laundering software. Other banks could follow its lead, though there are regulatory and customer-protection questions.

Policymakers need to focus less on how they regulate the banking industry’s cyber defenses and more on how they will protect the financial system from an attack.

Remote deposit capture fraud remains a threat, but analysts say that's just the tip of the iceberg. Here's how credit unions can better protect themselves -- and their members.

The wave of payments fraud that's sweeping the globe shows no signs of abating. Martina King has an answer in an artificial intelligence-driven platform that has drawn the interest of some of the world's largest banks, payment processors, merchant acquirers, insurance companies and gaming organizations.

Madeline Aufseeser's background prepared her well for a career as an technology entrepreneur. In her previous role as a financial services industry analyst, Aufseeser was responsible for taking the temperature of an entire industry and knowing how an event in one area could spark opportunity in another.

To keep up with the fast-moving payments industry and avoid damaging their own bottom line, it’s time for merchants to start paying attention, writes Todd Linden, CEO of payment processing for North America at Paysafe.

As chief fraud policy and control officer for Early Warning, it’s Donna Turner’s job to ensure security when consumers enroll through the Zelle app, and protect consumers and participating banks when users zap payments to recipients at different institutions.

As government officials reconsider how best to wind down large financial institutions, they should ensure the banking agencies have flexibility to act without disrupting markets.

The Consumer Financial Protection Bureau finalized a rule on Thursday that gives mortgage servicers more latitude in sending periodic statements to borrowers in bankruptcy.

TransUnion’s analysis of credit card applications and transactions finds fraudsters continue to steal more, but the rate of increase is slowing.

The fear of data breaches has become a regular part of life, but many regs that help protect auto lenders were written before that threat originated. Here's how to protect yourself.

Security risk management works best when artificial intelligence and humans work together, writes Suresh Dakshina, a president at Chargeback Gurus.

Royal Bank of Scotland Group has agreed to pay $500 million to the state of New York after a $5.5B agreement last year with the FHA, and another probe is pending.

Fiserv is rolling out a fraud-detection and decisioning service for issuers from Mastercard that aims to increase the accuracy of card transactions they approve or reject based on potential fraud.

The Minneapolis bank has been operating since October 2015 under a consent agreement that stemmed from deficiencies in its efforts to combat money laundering.

There's been a legislative bottleneck since the the crisis-era law went into effect, but Congress has moved forward on a handful of significant changes.

A federal judge has thrown out another ADA suit targeting a credit union website, but the industry is still waiting for clarity from the Department of Justice.

The Russia probe puts a national spotlight on a Chicago bank exec; CFPB's Mulvaney and Sen. Warren face off (again) while a credit union CEO takes a surprising position on the industry's tax exemption.