A river of drug-cartel money flowed through the U.S. arm of Dutch banking giant Rabobank, and now federal investigators are pursuing criminal cases against former senior executives for allegedly covering it up.
Comptroller of the Currency Joseph Otting took office only late last year, but he is wasting little time in tackling a series of hot-button topics, including easing anti-money laundering regulations and lowering national bank fees.
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.
The Minneapolis bank has been operating since October 2015 under a consent agreement that stemmed from deficiencies in its efforts to combat money laundering.
Shares of the Providence, R.I., company plunged Monday after a news report that it faces possible legal risks from the latest charges filed against Paul Manafort, the former campaign manager for President Trump.
The Dodd-Frank Act gets more attention when it comes to regulatory burden, but the Bank Secrecy Act and other anti-laundering statutes arguably present even more of a compliance challenge for bankers.
The Commonwealth Bank of Australia money-laundering scandal has damaged the public's perception of the whole banking sector, according to the head of the industry's lobby group.
A monitor's report detailing HSBC's compliance with a 2012 agreement with U.S. prosecutors to fix faulty money-laundering controls isn't a judicial document and shouldn't be made public, a federal appeals court said.
House Democrats are asking Deutsche Bank Chief Executive Officer John Cryan for documents related to two internal reviews, including one into accounts held by President Trump and his family.
