Money laundering

Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks' anti-money laundering compliance obligations.

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

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.

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.

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

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.

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.