Money laundering

Legislation before Congress would violate individuals' digital privacy by requiring digital wallet providers to intrusively gather and report highly personal information.

Switzerland on Wednesday proposed tougher AML rules as U.S. officials ramp up their critique of what they say is weak sanctions enforcement.

House Republicans' accusation that government agencies are being weaponized against political conservatives underlines a longstanding challenge for banks: Balancing customers' data privacy and stopping financial crime.

The subpoena is part of a growing Republican narrative that Democrats have weaponized the Federal Bureau of Investigation against conservatives.

Gacki, who has served since 2019 as director of Treasury's Office of Foreign Assets Control, will replace acting Fincen Director Himamauli Das. Her appointment comes as the Biden administration seeks to enforce sanctions against Russia and implement rules aimed at identifying undisclosed shell company owners.

The German bank's New York branch was entangled with U.S. regulators and law enforcement agencies for more than a decade in connection with money laundering and sanctions violations.

The Treasury Department's Financial Crimes Enforcement Network said it is looking into the feasibility of verifying entries in a forthcoming beneficial ownership database, but may be limited by legal and cost considerations.

Nexway, based in France, allegedly processed payments in its own name on behalf of a tech support scam and telemarketing company from 2016 to 2020.

Properly executed, the new anti-money-laundering program has the potential to cripple laundering networks by altering the landscape for financial services professionals.